Ruth Polachek

Co-Founder and CEO, Fincheck

Field: Fintech

Lady Globes Leading Entrepreneurs 2017 - רות פולצ'ק / צילום: ענבל מרמרי

Personal: 34 | Single | BA in economics and philosophy from the Hebrew University of Jerusalem; entrepreneurship studies at Brown University


A tool for managing expenses that uses a learning and artificial intelligence (AI) algorithm. "If you are supposed to receive reimbursement for work-related travel, today you have to make a collection of paperwork from every place you have been, and that's ridiculous. AI technology can keep track of these things, and understand them by itself. From my experience at Citibank, I realized that billions of hours are wasted on this every year just in the US. It makes no sense."

Founding a startup

"At Citibank, I headed the accelerator, and was responsible for external innovation. One of my jobs was to work with people at the bank from around the world, understand their problems, and work out what innovation was relevant to them. I spotted a problem that exists everywhere, but on the other hand it's not an area crowded with entrepreneurs. You don't see another 80 companies dealing with the matter - financial bureaucracy. A year ago, I founded the startup. I wasn't afraid to get up and leave, because I was confident in the product and the idea, and I previous experience with ventures, such as founding the she codes community."

Managing a startup

"You have to pay attention to what is happening to employees in their personal lives, because contented people can free up time to invest in their work. Good management is also motivating people to reach goals by themselves, happily and enthusiastically."

Learning from failure

"At the beginning of my career, I wanted to be an entrepreneur. I was killing myself over it, but I was unwilling to learn or share, and that was a big hindrance to progress.

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Advice for a beginning female entrepreneur

"Try to learn as much as possible from as many people as possible. There's a lot of value in studying other ventures. You have to find companies similar to the companies you'd want to build, and work in them. I don't believe that there's such a thing as an 'entrepreneurial character.' Anyone can do it; it doesn't matter what people around you say."

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