As per a latest report released by Start-Up Nation Central from Israel on 17th June, it mentions that Israel ranks fifth in global fintech investments; coronavirus hit the sector but also created opportunities.
Investments in Israeli financial technology (fintech) startups in 2019 totalled $1.8 billion, an all-time record, according to a report by Start-Up Nation Central (SNC) which tracks the tech industry in Israel. The figure represents a 107 percent increase over 2018 and an increase of 300% over the past five years.
Israel ranks fifth in global fintech investments after China, the US, UK, and India, with investment in Israeli fintech accounting for 5.1% of the global investments in this field, the report said. This makes Israel a “fintech superpower,” SNC said.
BioCatch, an Israeli fintech which uses behavioral biometrics to reduce online fraud and cybercrime, has landed $145 million in its Series C funding round amidst Coronavirus pandemic.
Led by multi-billion-dollar private equity firm Bain Capital Tech Opportunities, the round also saw new investor Industry Ventures join, alongside existing shareholders American Express Ventures, CreditEase, Maverick Ventures and OurCrowd.
More than 40 financial institutions use BioCatch’s technology, which analyses thousands of “behavioral parameters” on user devices to produce real-time risk scores that can help determine human and non-human cybersecurity threats.
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