Today, we’re excited to unveil the latest addition to the Rhino Crash, MyFO.
HQ
Vancouver, British Columbia.
Founders
Simran Kang (CEO & Co-Founder), Jonathan Ricci (CRO & Co-Founder).
The Problem
Family offices and ultra-high-net-worth individuals manage staggering sums—over $10 trillion globally by 2030, more than the entire hedge fund industry. Yet, despite this scale, the management of these assets is often plagued by inefficiencies. With over 10,000 family offices worldwide - a number which has tripled since 2019 - and over 260,000 individuals with wealth >$50 million, these unique investors often rely on disjointed, manual systems for tracking their investments. The vast majority of these families often use tools like Excel for their portfolio management, which is time-consuming and prone to errors. Furthermore, important investment documents are scattered across emails or horizontal cloud storage solutions, leading to fragmented oversight and frustrating performance tracking. This challenge is acute during crucial life events like estate planning, where a comprehensive understanding of finances is critical but hard to achieve.
The Solution
MyFO is designed from the ground up as the “control hub” for family offices. MyFO integrates disparate, manual workflows into one, intuitive interface built specifically for this unique category of investor.
Key features of MyFO:
While legacy technology players serve the largest, most sophisticated family offices today, there is a clear dissatisfaction with even these “advanced” offerings - these players are deemed too complex, costly, and rigid (as evidenced by only 16% of family offices using an asset aggregation tool). Since its launch, MyFO has rapidly gained traction, demonstrating a clear product-market fit. The response from the market has been encouraging, with MyFO quickly establishing itself as a leader in family office innovation.
The Team
Founder-market fit is important in any investment, especially when dealing with niche vertical markets where “winning” requires deep market penetration. Under the leadership of Co-Founder and CEO Simran Kang, who brings contextualized insights from her time building a multi-family office, MyFO is well-positioned to have a high hit rate on early product hypotheses and build the product she wished she had when she was the customer. Her firsthand experience in identifying the critical needs of this market is complemented by the expertise of Jon Ricci, Co-Founder and CRO. Jon's background in Mergers & Acquisitions at PwC, combined with his role as Chief Operating Officer at Vancouver-based INETCO Systems, as well as his unique experiences managing his own family office, equips the duo to capture significant opportunities within this niche.
Rhino’s Perspective
At Rhino, we see MyFO as a transformative force in the family office ecosystem. As the complexity of managing generational wealth continues to rise, MyFO’s platform is uniquely positioned to bring much needed efficiency, transparency, and scalability to this underserved market. With strong early traction and growing demand for modern, integrated solutions, MyFO is poised to capitalize on favourable market trends. The leadership team’s deep expertise in the family office space, combined with a clear vision for expansion, gives us confidence that MyFO will meet the evolving needs of family offices.
