How FundGuard is replacing the legacy platforms of large financial institutions

“We're probably quite unique in the fintech space. Where most fintech companies are trying to create an end-to-end business where they help the customer, we're actually helping the incumbents - the banks and asset management firms - to transform how they do their business,” said Co-founder and CEO of FundGuard Lior Yogev, speaking to CTech during Calcalist’s Tech on the Beach event in Tel Aviv this week.

Founded in 2018 by Yogev, CTO Yaniv Zecharya, and VP R&D Uri Katz, FundGuard is a fintech company that has developed a cloud platform for managing investment accounting for many American financial institutions.

“In my previous company, Multifonds, I led the business in North America and worked with the largest banks and asset management firms and was just shocked to see the type of archaic solutions they were using that ultimately drove inefficiencies and higher costs to investors and led to a lot of mistakes,” he added. “The idea for FundGuard came about from just personal experience in the industry and looking at newer technology and how that can help reshape how the industry operates.”

Unlike many Israeli startups who have seen massive layoffs this year (or worse), FundGuard is one of the few that has been on a hiring spree. “Our bet was that over time people are going to recognize the value of FundGuard, how we can actually replace their legacy platforms that are at the core of these financial institutions and really modernize how they work," Yogev said.

FundGuard was featured on Calcalist's list of the 50 most promising Israeli startups of 2023, ranking 24th.

You can watch the full interview in the video above.