We were very proud to translate Uri Levine, the founder of Waze. After selling  Waze to Google for an astonishing sum last June, the Israeli entrepreneur decided not to join the ranks of his famous acquirer. He told a little about his story and the simultaneous translation of his lecture was carried out by Paulo Silveira and Vivian Haynes.

Simultaneous translation lecture Uri Levine in São Paulo

Instead of working for Google, he turned his attention to his next startup, FeeX . Similar to the way Waze approached one of the biggest irritations of this life – getting stuck in traffic – the new company works with another issue that bothers him a lot – excessive taxes embedded in financial services.

FeeX wants to show its users cheaper alternatives to financial services, such as retirement savings accounts and life insurance.

“If rates are hidden it means banks are charging too much,” Levine said at a recent dinner with Israeli venture capitalists in New York.

In the case of FeeX, the company moved to New York because it wanted to focus on the larger market that is the USA. Americans spend $ 600 billion a year on hidden or obscure financial rates, according to data compiled by the startup.

“Technology companies that democratize access to sophisticated financial management tools have a great future, because the performance of traditional financial services often does not justify the high fees they charge,” said Andreas Stavropoulos, a partner at venture capital firm Draper Fisher Jurvetson, in Menlo Park, California.

Hidden fees can eat up to 30 percent of a person’s retirement savings, according to Robert Hiltonsmith, an economist specializing in retirement policies.

Another service that helps consumers avoid hidden fees is BillGuard, a mobile application that monitors credit and debit transactions. Similar to FeeX, which started in Israel, the company was later partially transferred to New York.

FeeX is a free service that will eventually add optional premium features. The service will initially focus on individual retirement accounts and later expand to credit cards, life insurance, and real estate financing.

Levine enjoys skiing in the Alps, has 5 children and currently works with several startups as an angel investor.

Simultaneous translation lecture Uri Levine in São Paulo

The simultaneous translation of the lecture given by  Uri Levine, founder of Waze, during his visit to São Paulo was done by our company, Intérpretes Profissionais.

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