Israel takes global lead in fintech
Effects of the war in Ukraine set aside, the Israeli fintech sector is expected to continue growing this year and attract more global investments.
For quite a few years cyber was the poster child of Israeli high tech, but in recent years it has had a real rival: fintech, which deals with financial technology. An impressive list of startups in this field have raised large sums, and in the past year the most well endowed and strongest of them have gone public at the New York Stock Exchange. These companies and others like them have made fintech one of the pillars of the innovation industry. Throughout the world, many eyes carefully watch any new Israeli fintech company. The first Israeli decacorn (a company worth $10 billion) will likely emerge from this field.
In 2021, investments in Israeli high tech reached more than $25 billion, 2½ times the amount from 2020, with fintech leading the field, overtaking cyber and reaching a peak of investments at $6.6 billion.
