Vyzer’s chief executive and co-founder Litan Yahav
Wealth management platform Vyzer secures $6.3m in funding
Vyzer, a digital wealth management platform based in New York, said $6.3m in seed funding from venture capital funders and family offices alike.
Vyzer, a digital wealth management fintech, announced it raised a seed round of $6.3m with investment from VCs, angel investors, and family offices including iAngels, Guy Gamzu, MonetaVC, Jonathan Kolber, and Rafi Gidron.
“This investment marks a significant milestone for Vyzer, enabling us to enhance our platform and expand our reach,” said Vyzer co-Founder and chief executive Litan Yahav. “Vyzer is making billionaire wealth management back-office capabilities accessible to everyday investors.”
The fintech, which was co-founded by Litan Yahav, Tomer Salvi, and Guy Gamzu, has offices in Israel and New York. It was started in late 2020 with the vision that an “anticipated shift of $68tn” baby boomer wealth would be passed to their heirs without expertise in wealth management and a desire to do it without a traditional financial advisor.
Yahav said their platform, offering individuals full transparency across various portfolios could democratize some of the tightest circles — “the biggest issue is it the private markets, specifically, there are still a select few high ultra high net worth individuals either accessing good products or understanding which are those products.” Yahav told AltFi, “it doesn't matter how good a wealth manager is, if they're not in that clique, they have no really good ability to give advice on the private placement world.”
While the company allows users to engage both in the private and public markets Yahav told AltFi that the most interesting for users is probably their ability to dabble into the private money movements.
“When SVB collapsed there was a mess in the banking world,” Yahav told AltFi, “we saw where people are holding their cash and where they're moving cash, to and from,... where people are managing the brokerage accounts where they're getting high yielding cash, cash deposits. All that information is in the platform and it's only a matter of flipping a switch to show with everyone else.”
Vyzer hopes to use the seed investment to further grow their customer base and increase the transparency for those on the platform. The wealth management company also said they will be using the investment to “ enhance its platform's AI capabilities.”
When asked what the chief executive is seeing that current investors are doing, Yahav said that a lot of people are sitting on cash.