Israel’s Bank Leumi is pumping more than $280,000 in a programme to aid financial technology start-ups.

The bank – along with start-up investor Elevator – will invest $20,000 in up to six companies in return for a 10% stake.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Leumi expects the programme to cost an additional $200,000 in the services each company will receive during the six-month placement.

Leumi and Elevator will provide each company with consultation and business development services, such as accounting, public relations and legal support.

The Bank will provide companies in the FinTech program with exposure to Leumi’s Eco-System and direct access to Leumi’s Beta Site, along with support by technological development experts,

The programme is aimed at companies engaged in banking technology that focus on payments, investment management, personal financial management and innovative products.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The first round will be launched in late September, with applications from start-ups currently open.

At the end of the scheme, the Bank and Elevator will assist the companies in creating business relations to promote their activities with leading financial institutions in Israel and abroad.

Danny Tsidon, Deputy CEO of Leumi, said the bank would set Israeli entrepreneurs ahead. "Bank Leumi aspires to support Israeli technology companies from their creation, during their stages of growth, and until they reach maturity", he said.

"I hope that our support to these companies will evolve to the point of further investment and even acquisition by Leumi," Tsidon added.

 

Related articles:

Leumi retains top spot

Refocusing on retail

Internationalising Israel