tax-alpha
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Frec
Frec is a San Francisco fintech that brings direct indexing - a tax-optimization strategy long reserved for wealthy clients of private wealth managers - to everyday investors. Instead of buying an index fund, Frec customers own the underlying stocks of an index directly, which lets the platform automatically harvest tax losses, offset capital gains, and customize holdings, all for a 0.10% annual fee. Founded in 2021 by former Twitter and Instacart product leader Mo Al Adham and launched publicly in 2023, Frec also offers a portfolio line of credit, a high-yield treasury account, and tools to diversify concentrated stock positions.
Pave Finance
Pave Finance is a New York-based fintech building an AI-powered, institutional-grade wealth management platform that lets financial advisors customize, personalize and automate portfolio construction for their clients. Combining an alpha-scoring algorithm, an optimization engine and an integrated trading platform across 10,000+ global securities, Pave brings tools once reserved for hedge funds and ultra-high-net-worth desks to everyday advisors - offering direct indexing, tax-loss harvesting, values-based screens and concentrated-position management. In September 2025 the company closed an oversubscribed $14M seed round.