Bank Leumi (uk) plc

Bank Leumi (uk) plc

LeumiTech expands with London opening

London, November 2015

LeumiTech expands with London opening

Bank Leumi has expanded its highly rated tech offering LeumiTech by opening a London operation.

Since its launch over a year ago, LeumiTech, a wholly owned subsidiary of Leumi Group, has become the financial home for the Israeli high-tech industry, with products and services that have become the gold standard for growing Israeli tech companies.

LeumiTech provides its clients with support in Israel and in the world’s major tech hubs. It has been a successfully operating in the US, in Silicon Valley and New York, and has now opened new operation in London, Europe’s high-tech centre.

“London is Europe’s buzzing tech hub, and Israel is a hot-spot for tech entrepreneurs,” said LeumiTech CEO, Yifat Oron.

“Already dozens of Israeli tech firms have opened up offices in the city, and LeumiTech is perfectly positioned to help them. We know the Israeli tech sector like the back of our hands, and Bank Leumi has been operating in London for more than a century.

I have no doubt that our new London LeumiTech operation will be of great help both to Israeli tech companies that seek to operate in Europe and European tech companies doing business with Israel.”

Shalhevet Mandler, who will be managing LeumiTech’s London offering as well as heading the UK Israeli desk said: “As one of the leading finance providers in the hi-tech sector, it is obvious that we need to be in London. We will be working with our sister offices in the US and Israel to continue promoting the financing and development of the hi-tech industry in Israel and around the world.”

LeumiTech consolidates Leumi Group’s extensive sectoral expertise into a focused offering specifically designed to meet the needs of new and growing hi-tech companies.

With clients ranging from start-ups to mature technology companies, it provides services that include working capital, acquisition and bridging finance. It also offers letters of credit and guarantees, currency and interest rate hedging, deposits and a full online banking facility.

“Companies in the Israeli high-tech industry are recognized for their overseas view,” said Idan Shapira, Deputy Chief Corporate Finance Officer at Bank Leumi UK. “From the outset, they see the international market, especially the US but also Europe, as their main target. It’s one of the industry’s major strengths.”

“Our experience of working with these companies has taught us what others, based outside Israel, really need.”

The Israeli and British governments are currently working together to bring more Israeli hi-tech companies into the UK, and London is already the most popular base for Israeli tech start-ups outside of Israel.

Technology accounts for 20% of Israel’s GDP and 30% of its exports, so the booming Israeli tech sector has a real potential to add growth to the domestic UK tech sector.

Over the past year LeumiTech has expanded into four of the seven main hi-tech hubs in the world, which suggests that LeumiTech and London will be the perfect partnership.

For more information, please contact:

Shalhevet Mandler
Head of Israel related business and Hi-tech Finance desk
+44 (0)20 3772 1794