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FinancialNews
01-10-18
Israel's FinTech companies foreign funds hit USD422m
(MENAFN) Israeli firms specialized in financial technology (FinTech) have been generating foreign funds which saw a record-high of USD422 million during the first six months of this year.
The amount of funds raised within forty-five dealings saw a surge by 33 percent compared to the second half of last year.
The figures were unveiled in a report issued on Sunday by Start-up Nation Central, a non-governmental organization committed to the Israeli innovation ecosystem.
The report noted that funds of around 30 percent are dedicated to the payment industry, with about USD30 million FinTech companies were able to raise in growth phases.
It comes as a total of 31 Israeli FinTech companies presented a historic revenue value of over USD10 million last year compared to 26 in 2016.
MENAFN0110201800450000ID1097511391
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