After traveling to Japan last month to showcase how London’s fintech sector can provide benefits to Tokyo’s market, London Mayor Boris Johnson arrives in Tel Aviv today. As part of his trip, Johnson and his delegation, which includes participants from the fintech and financial sector such as the London Stock Exchange, will be involved in presenting how Israeli-based companies can benefit by expanding their operations to London.
Johnson’s arrival occurs as both London and Israel have been two of the hottest markets for venture investments over the past few years. According to research from Nesta and London & Partners, venture capital investments in London companies in 2015 reached $1.7 billion, easily surpassing last year’s level of $1.3 billion. In addition, according to London & Partners research, tech investments in Israeli companies reached over $4 billion in the last five years.
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As part of the trip, Johnson and his delegation are aiming to strengthen the already strong ties between Israel and London. For many technology and financial firms in Israel, London has become the main destination for both raising capital, expanding internationally, and tapping the public markets. Over the past five years, technology firms account for 76% of all Israeli companies listed on the London Stock Exchange and have raised over £240 million in their offerings. Among them include several from the trading and fintech sector such as SafeCharge, Plus500 and TechFinancials.
Commenting on the existing connections forged between Israel and London, Mayor of London, Boris Johnson MP, stated, “London is the natural tech partner for Israeli firms looking to expand. With access to a world class talent pool and a booming digital economy it is no surprise that Israeli tech companies are making London their home and choosing the London Stock Exchange as their international market for expansion. I’m here to encourage even more of Israel’s top tech talent to head to our shores.”
Headlining today’s portion of the trip is a visit to Google Campus Tel Aviv that will include a roundtable discussion including Israeli firms that have expanded to the UK, as well as London business representatives such as UK Fintech Envoy Eileen Burbidge and Chief Innovation Officer at Barclays, Derek White. Alongside them, 16 companies from London will be exhibiting at the Google campus event, featuring technology from the education and urban solutions sectors.