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FINANCIAL SERVICES

Emil Vainshel, Yohanan Danino,and  Nitzan Zeir-Harim, Wesure  credit: Rami Zarnegar WeSure completes acquisition of Ayalon insurance group

Insurtech company WeSure Global Tech bought 67% of Ayalon Holdings for NIS 447.6 million.

Pagaya founders Credit: Inbal Marmari Pagaya plunges 67% in first week's trading

The Israeli fintech company, which began trading on Nasdaq after its SPAC merger at a company valuation of $8.5 billion, is now worth only $2.8 billion.

Alfred Akirov  credit: Ben Yuster Alfred Akirov returns to investment in Bank Leumi

Akirov's Alrov Properties and Lodgings bought shares to the tune of NIS 100 million in the bank's offering last week.

Aaron Frenkel Credit: PR Aaron Frenkel buys Leumi shares for NIS 930m

The Israeli businessman holds 2.1% of the bank's equity after it raised NIS 2.75 billion in new shares last night.

Alex Bouaziz Credit: Deel Deel to buy global payroll co PayGroup

Deel has bid $1 per share, a 174% premium on PayGroup's closing price on the Australian stock exchange.

Pagaya founders Credit: Inbal Marmari Pagaya completes SPAC merger at $8.5b valuation

Despite the market turmoil, the Israeli fintech company debuts on Nasdaq today, without having cut its valuation.

Bank Leumi branch credit: Eyal Izhar Leumi share price falls hard ahead of NIS 2b TASE offering

The Israeli bank's share issue will support rising demand for loans in the commercial, business and mortgage sectors.

Fido's team Credit: Fido Israeli fintech co Fido raises $30m for African expansion

Based in Ghana, the company provides financial services in regions that lack basic banking services.

Pagaya founders Credit: Inbal Marmari Israeli fintech co Pagaya to complete SPAC merger this week

Last week SPAC company EJFA's share price fell 40% on the day before shareholders approved proceeding with the merger.

Supervisor of Banks Yair Avidan Credit: Gideon Sharon GPO Banks, credit card cos can share data with customer consent

From today non-banking credit companies in Israel can receive information from banks and credit card companies as part of the open banking reform.

Mortgages credit: Shutterstock Mortgage taking in Israel rose strongly in May

Mortgage lending totaled NIS 12 billion last month, the Bank of Israel reports, the second highest amount of mortgages taken this year, only beaten by the all-time record high of NIS 13.4 billion in March.

Daniel Leon Credit: Eyal Izhar Cryptocurrency platform Celsius halts withdrawals

The Israeli-US company has announced that it is suspending all withdrawals, swaps and transfers from the accounts of its investors.

Assaf Wand Photo: Eyal Izhar Hippo board replaces CEO Wand after stock price drops 80%

Hippo president Rick McCathron has taken over from co-founder Assaf Wand, who becomes executive chairperson.

New housing in Ashkelon Photo: Shutterstock Yuri Dondish Mortgage risk rises

Analysis by the Bank of Israel finds that loan-to-value and payment-to-income were at peak levels for mortgages taken in April.

Alex Ginzburg, Ruthi Furman and Ido Vigdor Credit: Viola Credit Viola Credit closes $700m fintech startup fund

The funds have been raised from Israeli institutional investors including banks, insurance companies and investment houses.

Mizrahi Tefahot Credit: Eyal Izhar Mizrahi Tefahot suspends dividend despite record profit

Despite a 71% increase in profit, the Israel bank will not distribute a dividend due to the accelerated growth in credit to the public.

Bank Leumi branch credit: Eyal Izhar Leumi posts NIS 1.6b Q1 profit; declares reduced dividend

Unlike Bank Hapoalim, Bank Leumi will pay a divided on its first quarter profit, but only 20%, to meet capital adequacy requirements.

Yoni Assia CEO eToro Photo: PR eToro SPAC merger likely to be canceled

The Israeli online trading platform could raise up to $690 million in a private financing round, probably at well below the $8.8 billion valuation of the planned merger.

Asset sales boost Discount Bank's Q1 profit

Sales of two building sin Tel Aviv plus growth in the credit portfolio helped bring the bank's firts quarter profit to NIS 983 million.

Bank Hapoalim  credit: Tamar Matsafi Hapoalim posts NIS 1.65b Q1 profit but still no dividend

Because of rapid credit growth, requiring a high capital allocation, the bank has decided not to declare a dividend for the second quarter in succession.

Regulator approves WeSure takeover of Ayalon

After Ayalon complied with the Concentration Law and WeSure's owners received a control permit, the NIS 463 million deal can be completed.

Unit Finance Inc.  credit: Unit Finance Unit Finance reveals $100m raise at $1.2b valuation

The Israeli-US embedded finance company closed the round before the valuation bubble began to burst.

Mortgages credit: Shutterstock Mortgage lending falls back

The total of new mortgages in April was 22% down on March, but still relatively high for the month of the Passover holiday.

Adi Gazit with Kikar Hamedina project in background  credit: Gadi Sierra Bareket Capital obtains NIS 1.7b loan for Kikar Hamedina project

The residential tower project in central Tel Aviv, in one of Israel's most prestigious neighborhoods, will take five years to complete.

Leumi HQ and Beit Mani Credit: Eyal Izhar Bank Leumi sells Tel Aviv head office for NIS 623m

Sella Capital Real Estate is buying the historic Beit Mani and adjoining 13-floor building in Yehuda Halevi Street.

Erez Migdali  credit: Migdal Insurance Migdal takes stake in global data centers co

Insurance group Migdal has participated in the acquisition of CyrusOne, its first equity investment in the field.

Moshe Bareket  credit: PR New draft rules give savers choice on pension fund fees

Pension funds will be allowed to charge direct expenses only on certain kinds of investment.

Growth Photo: Shutterstock Israeli startups switch to loans as valuations fall

As the market cools, privately-held tech companies increasingly prefer raising capital through loans rather than venture capital equity deals.

Yoram Naveh  credit: Cadya Levy Clal Insurance set to buy credit card co Max

Clal Insurance Enterprise Holdings has signed an MOU with Warburg Pincus and its partners to buy Max for NIS 2.47 billlion.

Ron Daniel  credit: Geva Talmor Meitav Dash jumps as fintech unit Liquidity secures funding

Automated credit company Liquidity is raising up to $50 million from Apollo Global Management, MUFG Innovation Partners, Spark Capital, and others.

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