Israeli high-tech and FinTech industry make themselves at home in London

Tel Aviv – the newest high-tech capital – is currently recruiting London to be its next stronghold, due to its lucrative market for high-tech businesses. In 2014 there were over 2,000 start-ups, 50,000 people employed in the digital economy, and over £1.3 bn invested into high-tech companies, with a large percentage of Israeli firms choosing London over New York as their secondary home.

Israeli tech companies and investors are increasingly viewing the UK as a key destination for business and technological collaboration, and many seek to expand cooperation with the country. 

The son of former Israeli Prime Minister, Ehud Olmert, was in London on big expansion plans for his start-up company, the online publishing platform Playbuzz. Shaul Olmert, CEO of Playbuzz, told Israeli News that UK expansion and growth will be key to his long-term expansion: “London is top priority”.
Playbuzz has gone from 1 million visitors to a whopping 10 million in just under six months, through forming crucial partnerships with leading companies in the UK, such as Sky.

Get Taxi, ‘the Israeli Uber’ is now fine tuning London’s black cab industry, with its application booking service offering 30% off metered fares. FinTech companies – the ‘modern financial services’ – have their sights set on London, for example FeeX and eToro are both showing their presence in London’s financial sector. Over 12 Israeli companies, most of them high-tech start-ups, are now listed on the London Stock Exchange.

Eugene O’Sullivan, one of London’s most experienced Chartered Surveyors, with a lifetime of experience in the property industry, says,
“Commercial property may have found a new and exciting market. Offices all over the West End, City and especially east London have opened in the name of many Israeli start-ups.”

Could Israel and other innovative countries be our solution to Brexit? Only time will tell.

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