Fosun invests $5m in Israeli fintech platform The Floor

Tel Aviv Stock Exchange Photo: Eli Yizhar

The Floor is a global fintech platform that leverages Israeli technologies and expertise in verticals including fintech, blockchain and cyber.

Fosun has announced a strategic investment $5 million in Israeli fintech company The Floor, which is headquartered at the Tel Aviv Stock Exchange (TASE) and operates a branch in Hong Kong.

The Floor is a global fintech platform working with six of the world's largest financial institutions to shape the 'Bank of The Future' by leveraging Israeli technologies and expertise in verticals including fintech, blockchain and cyber.

Founded in 2016, The Floor has positioned itself as a tier-1 innovative solutions provider by helping global financial institutions to tackle their business pain points. The company's long term vision is to bring Israeli technologies to Asia and connect with local players. Recently, The Floor has established a branch in Hong Kong.

In May 2018, The Floor announced its strategic partnership with TASE to jointly establish a blockchain securities lending platform. The company has been dedicated to leading several R&D initiatives capable of delivering new technologies to financial institutions, alongside plans for global business expansion, especially in China.

Fosun International chairman Guo Guangchang said, "We are pleased to have The Floor join the Fosun Family. As a family-focused multinational company rooted in China and with profound industrial operations capabilities, Fosun's mission is to create global ecosystems in 'health, happiness and wealth' through technology and innovation. The Floor will assist Fosun to radiate Israeli fintech companies and introduce advanced technology and industries to Fosun's platform, and fulfil our mission of providing high-quality services and products for family customers around the world." The Floor cofounder and CEO Avi Cohen said, "Introducing Fosun as a strategic investor of The Floor is an important step towards our vision of improving the financial industry. As a start-up serving tier-1 multinational banks, our aim is to partner with global players like Fosun to promote our platform and expand our business scale. The Floor is shaping future technologies across fintech verticals and we believe that Fosun will lead us to the fast track to becoming a market leader."

Published by Globes [online], Israel business news - www.globes-online.com - on August 19, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Tel Aviv Stock Exchange Photo: Eli Yizhar
Tel Aviv Stock Exchange Photo: Eli Yizhar
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