March 1, 2018
Israeli startups raised over $500 million during February, according to press releases issued by companies that have completed financing rounds. The figure may be more as some companies prefer not to publicize the investments they have received. This figure follows a sluggish start to 2018 when Israeli startups only managed to raise $260 million.
This month’s figure would put Israeli startups back on course to beat the record $5.24 billion raised in 2017, according to IVC-ZAG, which was up from $4.8 billion in 2016, which was itself a record.
Half of February’s figure was due to debt raised by fintech startups rather than venture capital investments. Behalf, which provides short-term loans and working capital to small and medium-sized businesses in the US, completed a $150 million debt issue, led by Soros Management Fund and the Viola Credit fund, while asset management company Pagaya investments raised $75 million in debt from Citi Group. Blender Global, which has developed a platform for digital loans, raised $16 million in capital and debt from Blumberg Capital, and European Eiffel Investment Group.