Vyzer, a NYC-based provider of a digital wealth management platform, recently raised $6.3M in Seed funding. In conjunction with the funding, Litan Yahav, CEO and Co-founder, replied to our questions about his background, the company and the product, the funding and future plans.
- Hi Litan, can you tell us a bit more about yourself? What’s your background?
Tomer Salvi and I, former officers in the Israeli Navy and Air force, embarked on an entrepreneurial journey by co-founding and successfully selling “Segoma,” a groundbreaking diamond display technology that disrupted the global diamond industry. After this successful exit, we transitioned into passive real estate and private equity investors, amassing complex, and diversified investment portfolios.
Our decision to launch a startup stemmed from the absence of a suitable technological solution to manage, track, and monitor our wealth, along with a comprehensive range of investment assets. This realization led us to build Vyzer’s platform, which is tailored to address these specific needs and requirements. During this phase, we crossed paths with Guy Gamzu, who boasts a background in the diamond industry and a track record of founding and supporting numerous Israeli unicorns. Together, we co-founded Vyzer, driven by our shared vision and expertise.
- Let’s speak about Vyzer. What is the market problem you want to solve? What is the real opportunity?
Investors often face several challenges in managing their portfolios. First, data from various investment platforms is often presented differently, making it hard to get a consolidated view. Second, ensuring data accuracy is crucial, but multiple sources increase the risk of errors and outdated information. Third, monitoring diverse investments in different asset classes can be complex, requiring various performance metrics. Additionally, managing the sheer volume of data, including statements, reports, and alerts, can be overwhelming. Timely decisions are critical in financial markets that change rapidly, but not all platforms provide real-time data. Lastly, effectively interpreting data requires understanding specific metrics and benchmarks for each investment.
Vyzer simplifies wealth management by offering a unified platform. Our comprehensive dashboard provides a consolidated view of all investments, addressing the challenge of fragmented data. Furthermore, Vyzer syncs with over 16,000 financial institutions, ensuring accurate and up-to-date data, mitigating the risk of manual errors. The platform generates reports and data-driven projections, enabling investors to easily gauge their investments’ performance and make informed decisions. Our Magic Box feature streamlines adding and updating assets and liabilities. Members can simply upload or forward any financial document to a secure import email, and the platform will create or update the relevant items. This process combines machine automation and human intervention, ensuring accurate data extraction while maintaining member privacy.
We also provide a feature to benchmark investments against peers with similar profiles, facilitating better decision-making. Prioritizing member privacy and data security, our company anonymizes all information before it’s viewed by the team, ensuring confidentiality. Catering to a wide range of investors, from those looking to grow their portfolio to high-net-worth individuals, Vyzer offers advanced financial planning tools and a user-friendly interface. These tools assist members in charting their financial future and setting achievable goals, taking the guesswork out of financial planning and making it a more structured and reliable process.
By addressing these challenges, we at Vyzer empower investors to efficiently manage their wealth with confidence and control.
- What are the features differentiating the product from competitors?
Vyzer is unparalleled in its specialization in private placement investments, offering investors a distinctive advantage over competitors primarily focused on mass markets. Our platform provides the tools for automated tracking and data consolidation, which are specifically designed to cater to the needs of private placement investors. This unique approach empowers our members to effortlessly manage their private investments, ensuring a comprehensive view of their portfolio’s performance.
Moreover, when it comes to affordability, Vyzer stands out as a cost-effective solution compared to similar services offered by the traditional wealth management industry. We believe that financial empowerment should be accessible to everyone, and our pricing reflects this commitment.
We are dedicated to helping investors achieve their financial goals with confidence and control, making us a compelling choice in the market.
- You just raised a new funding round. Please, tell us more about it.
Vyzer recently secured a $6.3 million Seed round from a consortium of prominent investors, including iAngels, Guy Gamzu, MonetaVC, Jonathan Kolber, and Rafi Gidron.
This funding injection will further strengthen our mission of harnessing AI technology to empower investors with a comprehensive suite of wealth management tools. We intend to utilize this investment to enhance our reporting and wealth management features, particularly in areas like taxes and complex holding entities. Additionally, we aim to bolster our community and benchmarking functionalities while expanding our professional services, such as tax advice and access to premium concierge services, for the benefit of our valued members.
This infusion of capital will accelerate our journey to redefine wealth management for the digital age.
- Can you share some numbers and achievements of the business?
Vyzer’s platform is currently tracking and managing a portfolio of over 4 billion USD for our members. This achievement highlights the trust and confidence that investors place in our platform to oversee their wealth and investments. We take pride in our ability to empower our members to efficiently manage their financial portfolios, leading to such significant assets under management.
- What are your medium-term plans?
As a full-service virtual family office for our clients, we’re planning to further enrich our offerings by incorporating additional AI capabilities and introducing new features and functionalities to enhance the value we provide to our members.