LSEG Partners with Israel’s Largest Bank to Help Fintech Startups Raise Funds

The partnership will see LSEG’s ELITE and Bank Hapoalim collaborate to attract new Israeli companies to ELITE.

London Stock Exchange Group (LSEG) today announced that its international programme for ambitious high growth businesses, known as ELITE, has signed a Memorandum of Understanding (MoU) with Israel’s leading financial services group, Bank Hapoalim.

ELITE and Bank Hapoalim will collaborate to support the development of Israeli high growth businesses and promote ELITE in Israel.

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First Israeli LSEG Capital Markets Conference

The MoU has been announced in conjunction with LSEG hosting its first Capital Markets conference in Israel, bringing together UK and Israeli senior politicians, business bodies, the advisory and investment community and CEOs of some of the fastest growing Israeli companies, highlighting LSEG’s commitment to supporting high growth Israeli companies.

London has an active and fast growing community of Israeli companies on its markets.

Three Israeli companies are already part of ELITE’s community, boasting over 400 companies from 23 countries. These include social trading platform eToro, peer-to-peer lender BLender and the world’s first cloud-based video creation and production company, Showbox.

ELITE serves to facilitate company access to a comprehensive range of funding options, increase company profile, promote relationships and opportunities with potential investors and support management best practice and entrepreneurship.  

London has an active and fast growing community of Israeli companies on its markets. 29 Israeli businesses are listed on London Stock Exchange across the Main Market and AIM, with a combined market capitalisation of $10.2 billion. This includes well known names such as spread-betting company Plus 500, gaming software supplier Playtech, mobile advertising company Taptica and tech firm Telit Communications.

New Appointment

Reinforcing the importance of the Israeli market to LSEG, the group has also announced the appointment of Justine Zwerling as Head of Israel for Equity and Debt Primary Markets. She brings over 20 years senior level experience working across the EMEA region, helping businesses grow and succeed in new geographical markets.

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Israel is the start-up nation of the world, a powerful hub for entrepreneurial ambition, innovative investment activity and wealth creation.

Nikhil Rathi, CEO, London Stock Exchange plc and Director of International Development, London Stock Exchange Group, commented: “Israel is the start-up nation of the world, a powerful hub for entrepreneurial ambition, innovative investment activity and wealth creation. Today we are excited to announce the partnership between ELITE and Bank Hapoalim and host some of Israel’s fastest growing businesses and sophisticated investors at LSEG’s Capital Markets conference, strengthening the long history of business and friendship ties between our two countries.”

Avi Kochba, Head of Innovation, Bank Hapoalim, added: “Bank Hapoalim is excited to partner with London Stock Exchange Group’s ELITE programme today to support innovation and entrepreneurship across Israel. Through our recently launched innovation division, we are looking for strategic partners who share our vision for the future of Israel and understand the importance in supporting Israel’s fastest growing companies. Working with ELITE will allow us to do just this, for the benefit of the Israeli economy and the promotion of innovation within Bank Hapoalim.”

Other members of ELITE’s community have commented on today’s announcement:

Yoni Assia, CEO of eToro, said: “ELITE offers businesses an unbeatable opportunity to help them scale fast. It is a fantastic programme that brings together an international network of like-minded entrepreneurs with business schools, advisers and investors, creating an environment where companies can share challenges, opportunities and ultimately learn about the different forms of funding available to them, helping them to keep on growing and competing on the world stage.”

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Gal Haber, co-founder and Managing Director, Plus500

Gal Haber, co-founder and Managing Director of Plus500, said: ’We joined AIM in 2013 with the intention of increasing the profile of the Group to attract new customers, whilst providing a market for our shares.”

“The new funds we raised enabled us to invest in additional marketing to increase brand awareness internationally, penetrate new markets and accelerate growth in existing markets. Since joining AIM, our share price has risen from 115p at IPO to over 700p today, and we have paid out more in dividends than the original market cap. Our involvement with AIM and the London Stock Exchange has therefore been a great success story.”

Further LSEG Israel Highlights

London Stock Exchange is home to the deepest pool of international investor capital with listings in excess of $10 billion from Israeli companies in London, underlining the exceptional investor interest in building exposure to the country’s dynamic economy through equity, debt and exchange traded fund products.

In 2016 so far, $2 billion in Israeli stocks has been traded on London Stock Exchange and $330 million on Turquoise. Last year, the Israeli Securities Authority granted authorisation for London Stock Exchange plc and Turquoise to admit Israeli member firms, subject to certain limitations.

Of further significance is MTS, LSEG’s electronic fixed income trading platform which provides the designated wholesale electronic trading system for Israeli Primary Dealers. The Tel Aviv Stock Exchange is MTS’ technical partner in Israel for connectivity infrastructure, providing MTS Israel with the Tel Aviv Clearing House.

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