The financial technology industry is captivating entrepreneurs and startups all over the world these days. For some reason, some countries and regions are more lenient towards to the concept of Fintech compared to others. Israel is finally getting a Fintech hub to spur future innovation in the financial sector, by actively supporting startups and their disruptive business models.
The Floor Fintech Hub In Tel Aviv
A lot of people will think of Israel as the country of war and disputes between residents, but there is a lot of technical innovation running rampant in the region as well. In fact, some of the most prominent software developers in the world were born in Israel, and the country is home to various security experts as well.
It only seems to make sense to wield this interest in IT and software to shake up the way we think about payments on a global scale. It has taken a while, but Israel finally has their Fintech hub, called The Floor. While The Floor is located in Tel Aviv, the plan is to attract entrepreneurs and startups from all over the country.
What is even more interesting is how The Floor is made possible thanks to the financial backing of Pando Group. Some people in the Fintech industry might know this name as it is a collaborative venture capital fund between Chinese and Israeli VCs. Such a financial vote of confidence is a good way for The Floor to get things started.
Other than the financial backing by Pando Group, four major financial institutions are actively sponsoring Fintech innovation in Israel as well. Intesa Sanpaolo, Santander, RBS, and HSBC are all invested in The Floor, which will attract startups covering all different aspects of the financial sector. Especially big data, blockchain technology, and compliance startups should send in their application to The Floor.
Competition in the Fintech industry is healthy, as it will drive even more innovation than ever before. The Floor is aiming quite high, though, as they want to be the Israeli version of London’s Level 39. With over 400 Israeli Fintech startups in existence at the time of publication, The Floor will bring plenty of positive attention to financial technology innovation over the coming years.
Not only will aspiring entrepreneurs and startups be offered housing by The Floor, but there is also the guidance aspect of this Fintech hub, which is even more valuable. A network of 25 experts will guide financial technology startups in the right direction, and make sure they can avoid some of the most common pitfalls. While membership is not free, the value for money in return is well worth the price.
Source: News Tip Via Email
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