Israel is a small country the size of the U.S state of New Jersey. The country has a population of about 8.5 million people. However, it is a global fintech giant with over 500 fintech startups. In 2015 Bloomberg ranking, Israel was the fifth most innovative country in the world. In 2016, the world economic forum ranking found that Israel was the second most innovative country globally. The innovative culture in the country has led to the rise of fintech firms transforming the financial sector. Here are 10 top fintech startups Israel.
Payoneer was established in 2005 by an Israeli investor, Yuval Tal. Currently, it has 12 offices in different countries and employs over 700 people. In late 2016, it successfully completed a $180 million equity financing round. Inc. 5000 Financial Services Companies places Payoneer in top 100 globally.
OurCrowd is an online crowd investing platform based in Jerusalem but operating globally. It was established in Jerusalem in 2013 and currently boasts of five investment funds which have attracted $320 million worth of investments. OurCrowd also has 110 portfolio companies. It has seven offices in different parts of the world. In 2016, the company was ranked among the top 50 in KPMG’s 100 most promising companies globally.
Zooz has operations in Israel, Germany and San Francisco. It focuses on data driven payments that allows enterprise merchants to connect with multiple payment providers.
Based in Tel Aviv, CreditPlace is a peer-to-peer investment platform that offers an opportunity to investors to buy receivables from state owned enterprises and private companies. CreditPlace plans to expand to other countries in 2017.
Fundbox was founded in 2013 and is based in Tel Aviv. It provides small businesses with a cash flow management platform. Additionally, Fundbox provides loans to these small businesses and freelancers.
MyCheck was founded in 2011 with headquarters in Tel Aviv. The company provides a mobile payment solution for hospitality operators such as restaurant chains. Users get the benefits of features such as first checkout while businesses get the benefit of increased engagement with customers.
BioCatch has offices in both Tel Aviv and New York. It deals with the provision of malware detection and behavioural identification services to mobile and web banking platforms.
I Know First is based in Tel Aviv. It uses advanced self-learning algorithms powered by machine learning and artificial intelligence to provide daily forecasts on securities, currencies and commodities. It’s used by big financial institutions, hedge funds, banks and other private companies.
Neema was started in Tel Aviv with the aim of serving unbanked migrant workers by enabling them to send money back home, purchase cellular plans and buy goods online by use of a mobile app. Neema has since opened an office in San Francisco and started its operations in the U.S.
Rewire is a remittance company that helps its customers save on fees when they send money home. It is based in Tel Aviv and provides online money transfer services to international destinations including India, Russia, Philippines, Thailand, Nepal and Sri Lanka.