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    The future of finance: Eldad Tamir's path to founding FINQ

    • September 19, 2023
    • 3 min read

    Overview

    • Meet Eldad Tamir, the founder of FINQ, and his journey towards creating the platform.
    • Explore Tamir's motivations for developing an AI-based investment platform.
    • Discuss Tamir's vision for the future of investing and how FINQ embodies that vision.

    Embracing the future of finance: A journey in Tel Aviv

    Nestled in the vibrant heart of Tel Aviv, amidst the ceaseless rhythm of innovation, I've been immersed in Israel's investment scene for over a quarter of a century. Despite countless shifts and reinventions in the financial realm, my passion for positive change and unwavering faith in technology remain steadfast. FINQ sprouted from a heartfelt wish to shape the future of finance, crafting a space where tech and finance dance together effortlessly.

    The road less traveled

    From my early military days to my lecturing stints at Tel Aviv University, the urge to create an impact has been my compass. Finance, for me, wasn't a straight path. I started with a curiosity in economics, a subject I stumbled upon almost by accident, later furthering my knowledge with an MBA in Finance.

    My early career was forged at Israel's trailblazing venture fund or my roles at Clal and Evergreen Funds. Yet the corporate maze of larger firms wasn't for me but proved to be an invaluable stepping stone. However, my true calling was realized with the birth of the Tamir Fishman Group in the mid-90s as it allowed me to shape the financial landscape.

    But amidst these milestones, I sensed a void. I've always been on the lookout for the next horizon and the financial world was a maze filled with snags that needed to be smoothed out. Traditional systems didn't always resonate with the everyday individual's needs. This realization was the origin of FINQ.

    The birth of FINQ

    The financial realm has its share of oddities. Middlemen, reminiscent of cinematic portrayals like 'The Wolf of Wall Street,' persist even today. Many are ensnared by these financial go-betweens. The traditional system, dominated by middlemen, often fails to serve the common man.

    FINQ emerged from a yearning to rewrite the rules. I dreamt of a nexus where tech meets finance, placing power back into people's hands. At FINQ, we're not simply introducing yet another fintech tool, we are transforming how people manage their finances.

    "At FINQ, we're not simply introducing yet another fintech tool, we are transforming how people manage their finances."

    AI: The heartbeat of FINQ

    Artificial Intelligence has revolutionized the financial industry, making traditional approaches to finance management obsolete. 

    At FINQ, we believe that everyone should have access to the best-of-breed financial solutions. We employ sophisticated algorithms to counterbalance emotional volatility (e.g. fear, greed, impulsiveness, etc.) within our investment platform. One of the cornerstones of FINQ is the integration of Artificial Intelligence (AI).

    Through technology, we're able to bring a lot of know-how and data to everyone at any time.

    Ethical foundations

    FINQ does not have its own products for a reason as we built the company without having a conflict of interest. We also do not, and will never charge different fees from suppliers of products. Part of our mission is to always be cheaper for the client and for product operators. 

    We wanted to give everyone access to good quality financial information and data and actionable opportunities on that big data that isn’t available today. Our goal is to grant everyone the key to top-tier financial solutions.

    "Our goal is to grant everyone the key to top-tier financial solutions."

    Crafting a dream team

    Behind every groundbreaking venture is a tribe of passionate souls. Piecing together FINQ's team was no small feat. I've always gravitated towards creators—those who think out of the box and infuse their unique flair. We valued individuals who were not limited by traditional frameworks but could instead envision new ways of doing things.

    A note to budding Fintech visionaries

    For aspiring entrepreneurs looking to venture into fintech, my advice is simple: chase value and let passion be your guide.

    "chase value and let passion be your guide."

    Chase Value: In the aggressive fintech arena, pinpointing unaddressed challenges is key. Economics is always about value. So if we built another payment company today, there's not much value to add. The place to add value lies in serving consumers, as other market players already possess substantial value.

    Passion Over Profit: Monetary gains might allure many, but genuine passion is the cornerstone of enduring success. To be successful isn’t enough if you don't have the passion for the solution, the passion to solve a problem. The passion for money doesn't hold.

    The path forward

    As FINQ's launch looms, a cocktail of exhilaration and hope courses through me. At FINQ, we genuinely believe in equipping everyone with the financial know-how to thrive.

    After countless late nights, cups of coffee, and endless learning, I'm more than ready to make my financial visions come alive. Join FINQ on this journey and together let's revolutionize the financial landscape.

    30+ years of experience in investment management and investment banking with technology and VC expertise have made Tamir a cornerstone of the investing community. Tamir is also a public figure in the financial sector, served as a judge in the local Shark Tank TV show, and is a regular panel member in the local and foreign media. Tamir is the founder and CEO of the Tamir Fishman Investment House.

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