Company Overview
Snapshot
Founded in January 2017 by Oran Goldstein and Raz Goldstein, FamilyBiz operates with 1–10 employees. The company has raised $500,000 across one funding round. In July 2022, the company experienced significant user growth for its finance management app amidst rising living costs.
Business overview
FamilyBiz is a financial technology company that provides advanced social financial tools for private users. Its core product is a software system that automatically gathers and consolidates all of a user's financial data, including credit cards, bank accounts, investments, mortgages, real estate, and insurance and pension information. The platform enables users to manage current budgets with personalized comparative reports and utilizes bots and algorithms to build business plans that help users achieve their financial goals. FamilyBiz operates within the Fintech & Insurtech sector, specifically targeting the Personal Finance Management market.
Strategic signal
In July 2022, FamilyBiz saw a significant increase in user adoption for its finance management app, driven by rising living costs in Israel. This surge in demand, alongside similar trends for other Israeli finance management apps, indicates a growing market need for tools that help individuals and families manage their household finances more effectively. For investors, this signals strong product-market fit and potential for continued user growth in a challenging economic environment.
Log in to access full profile ›Company Intelligence Q&A
- What is FamilyBiz's primary offering?
- FamilyBiz offers an automated financial management tool that consolidates users' financial data from various sources like credit cards, bank accounts, investments, and insurance, providing a comprehensive overview for personal financial planning.
- When was FamilyBiz founded and by whom?
- FamilyBiz was founded in January 2017 by Co-Founders Oran Goldstein and Raz Goldstein.
- What was the impact of rising living costs on FamilyBiz's user base?
- In July 2022, FamilyBiz experienced a growth-positive impact, with increased user engagement for its finance management app as individuals sought tools to manage household finances more effectively amidst rising living costs.
- What are FamilyBiz's plans for international expansion?
- In August 2020, FamilyBiz announced plans to expand into European territories and develop a multi-language app to support wider international use.
- What is the total capital raised by FamilyBiz?
- FamilyBiz has raised a total of $500,000 across one funding round.