Vancouver-based MyFO has raised $4.8 million CAD ($3.5 million USD) to expand its wealth management platform, which is specifically designed for family offices. The funding round, which included $200,000 USD in non-dilutive capital, was led by Rhino Ventures, with participation from Metalab Ventures and several family offices. As a result of the investment, Rhino Ventures secured a seat on MyFO’s board. To date, MyFO has raised a total of $5 million USD ($6.9 million CAD) in external funding.
Founded in 2021 by CEO Simran Kang and Jonathan Ricci, both former PwC advisors, MyFO’s platform consolidates the data, documents, and management needs of family offices into a single dashboard. The platform integrates real-time data from over 20,000 sources, including banks, brokerages, and private equity firms.
In addition to data integration, MyFO offers analytics, scenario modeling, and benchmarking tools, allowing users to simulate actions such as selling a stake to understand potential portfolio impacts. The platform uses AI for data ingestion but remains focused on privacy and data security, addressing concerns specific to family offices. MyFO emphasized in a statement that while many companies are chasing AI trends, their focus remains on delivering thoughtful, privacy-conscious innovation.
