The Floor picks up $5m strategic investment from Fosun

Israel-based FinTech company The Floor has netted $5m in a strategic investment from Fosun and Fosun Hani Securities.

This deal marks Fosun’s second FinTech investment in Israel, and will see it join the company’s board of directors.

Headquartered in the Tel Aviv Stock Exchange, the company provides financial institutions with innovative solutions. The company’s long-term aim is to bring Israeli technology to the Asian market and connect local enterprises. Earlier in the year, the company formed a partnership with TASE to jointly launch a blockchain securities lending platform.

The Floor works with the R&D of companies, helping to build innovative solutions that can support financial institutions. Its focus is building solutions for digital banking, capital markers, big data, blockchain, IoT for banking, InsurTech, digital payments, compliance, KYC, cybersecurity, anti-fraud, AI and authentication.

Through this investment, Fosun will look to promote The Floor’s platform to the Asian marker and accelerate global expansion.

Fosun International chairman Guo Guangchang said, “We are pleased to have The Floor to 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.”

Late last year, Fosun deployed a $14.25m investment into fellow Israel-based FinTech company BondIT. The company offers a fixed portfolio to income traders and their portfolios.

Copyright © 2018 FinTech Global

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