Watch out UK, Israel is looking to become the next fintech capital. Last year, Israeli investment in fintech represented 12% of total investments. VentureBeat points out 6 reasons why fintech innovation has thrived in this county.
The Israeli fintech industry continues to grow so impressively that it is attracting more and more entrepreneurs and increased funding from global investors. Take, for example, companies like FundBox, which raised $90 million in two rounds, Payoneer, which attracted a similar amount, and eToro, which raised $40 million, all in the past year. In addition to the long list of successful fintech companies that have gone public or been acquired by leading players, many more Israeli startups are addressing emerging fintech sectors including payments; trading and investing; lending and financing; cryptocurrency; customer engagement; personal financial planning; anti-fraud; banking and insurance; and more