"The Floor", the Israeli version of London's Level39, has built strong partnerships with global banks like HSBS, RBS, Banco Santander, along with semiconductor giant Intel. The intention is to build a fintech hub in Israel, promoting fintech startups as they aim to scale through partnerships with global institutions. As Israel's financial industry is trying to expand and gain global recognition, the Bank of Israel has decided to also take part in "The Floor"s initiative and views it as a "win-win situation".
Four global banking conglomerates have joined forces with semiconductor giant Intel and three Israeli entrepreneurs to take part in Israel’s growing financial technology scene by setting up a new fintech hub at the heart of Tel Aviv. Get the Start-Up Israel's daily newsletter and never miss our top stories FREE SIGN UP! HSBC, RBS, Italy’s Intesa Sanpaolo and Spain’s Banco Santander have set up, together with Avi Cohen, Gil Devora and Moises Cohen, a new center to foster the creation of financial technology startups in Israel. The Floor, as the Tel Aviv based center is called, aims to pave the way for the companies it fosters to access the $1 billion investment funds managed by the group’s strategic partners and banks. KPMG and Accenture are also part of the venture, the partners said in a joint statement.