Rakefet Rusk-Aminah, former CEO of Bank Leumi, together with fintech entrepreneurs Yuval Tal, founder of the unicorn Payoneer and Ronen Asia, founder of the unicorn eToro, as well as Galia Beer-Gebel, who served as head of business development at PayPal in Eastern Europe , Africa and Israel, join Team8 to establish Team8 Fintech: a platform for building Fintech companies, the group will identify great opportunities in the financial world, and establish strong global startups alongside strong entrepreneurs, while leveraging the team’s expertise in retail banking, credit, payments, e-commerce, international commerce , Capital markets and investments, as well as Team8’s expertise in establishing companies.
The financial industry, which is estimated at trillions, has been in the process of accelerating and substantial change in the last decade. The new consumer expects personal, accessible, fast and cheap service. The regulation encourages competition and ownership of users for their information, and the latest technologies allow for a general change of the old rules. Corona virus is also a catalyst for the transition from the physical world to the digital world, and also requires the financial industry to hurry up and offer a variety of digital experiences that will meet customer expectations.
Team8 Fintech will connect with promising entrepreneurs in order to build together startups that will help players in the financial arena remain relevant and increase their competitive advantage. The companies that will be built will mainly be B2B2C / B2B companies and not those that address the final consumer directly. The group will focus on carrying value for three types of players: banks and other traditional players, established fintech companies, and large entities that are not financial in nature, but have a broad customer base and can offer them financial services.
Team8 Fintech will leverage the team-building model of Team8, which has already grown companies such as Signia, which was sold to Temasek for $ 250 million, and Claroti, which raised more than $ 100 million, along with many other companies such as Illusive Networks, Heisolite, FortShift, Duality and Curv. .
The Team8 Group’s ability to build companies will enable it to optimally deal with the existing complexity of building companies in general, and in the area of finance, which is biased towards regulation in particular. Technologies for the financial world also require high expertise in the areas of cyber, data, artificial intelligence and information privacy – Team8’s core areas in recent years.
“My passion today, as someone who is well aware of the challenges and complexities of creating innovation within large organizations, is to build the kind of companies I would like to collaborate with in my previous role as CEO,” Rakefet Rusk Aminach said. “I recognize great opportunities in leveraging technologies for a significant change in the world of financial services, streamlining and improving the customer experience. A leading technology partner is an essential component for creating top-notch financial innovation and no group has exceptional technological capabilities in the areas of technology, cyber and data like Team8. “
In parallel with Team8 Fintech, the Team8 group operates two more arms: Team8 Enterprise, which establishes cyber, data and technology companies for organizations, and Team8 Capital, which invests in existing companies in the lime, A and B phases in all areas of the group’s specialization.