The Biggest Winners of the Israeli Tech Startup Business
The largest so-called “mega-rounds” of funding were received by Israeli tech startup companies like Rapyd (formerly known as CashDash), Drivenets, OwnBackup, and K Health. The largest of these by far was Rapyd, a global payment platform company that received $300 million in a Series D startup investment round.
The Israeli company said in a statement that the startup investment “represents a major validation of our Fintech as a Service approach that allows companies of all sizes to quickly and easily embed fintech and payments capabilities into any application. We’ll be doubling our engineering and R&D budget and continuing to build out our global team.”
Investment in the Israeli Tech Startup Business Last Year
But investment in the Israeli tech startup business is not exclusive to this year. Last year, investment in this sector grew by 32% last year to reach a final valuation of $10.4 billion.
It’s something that has helped numerous Israeli tech startup companies grow not just in the startup companies’ country but across the world.
Rapyd said in the same statement for their fintech (financial technology) startup company that the funding would help the business expand internationally.
“This round of investment will help us expand our capabilities and our global reach. Last year we launched all-in-one payment solutions in Brazil, Mexico, the UK, India, South Korea, and Thailand,” the Israeli tech startup business wrote. “This year we’ll be expanding the Rapyd Global Payments Network to reach more countries than any other platform. Our approach of unifying fragmented local payment systems and operationalizing them so a business can easily connect into them to offer a local payment experience is a core differentiator because Rapyd does this at scale.”
The Lesson for an Israeli Startup Business
Rapyd is not only in a good country for the growth of a young tech startup business, but the Israeli company is also in a good position industry-wise.
The fintech startup industry led all startup company sectors in the country in January and raised a total of $413 million just that month. The lesson? If you want to meet the market where it is, the Israeli fintech startup business is a good place to start.
About the Author
Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.