General information

Population

9.4M

Online population

8.5M

Currency

ILS

Market overview

Population - [9.4M](https://www.worldometers.info/world-population/israel-population/#:~:text=The current population of Israel,of the total world population.)

[At the start](https://datareportal.com/reports/digital-2024-israel#:~:text=The state of digital in Israel in 2024&text=Israel was home to 6.92,percent of the total population.) of 2024, **92.9%**of Israel’s population lived in urban centres, while 7.1% lived in rural areas.

Internet penetration - 92.1%

There [were](https://datareportal.com/reports/digital-2024-israel#:~:text=The state of digital in Israel in 2024&text=Israel was home to 6.92,percent of the total population.) 8.5M internet users in Israel at the start of 2024

FinTech Outlook: Trends, Insight & Technology

Israel’s FinTech sector has proven resilient and dynamic, positioning itself as a major global player. As of 2024, Israel has around 600 FinTech startups, making it one of the leading nations in FinTech innovation.

The Navigating Israel's FinTech Frontier 2024 report provides insights into Israel's FinTech landscape:

• Total FinTech funding in Israel declined from $6.4B in 2021 to $1.4B in 2023, mirroring global trends. However, early-stage funding remains strong, with 65% of 2023 deals under $10M.
• Mergers and acquisitions (M&A) rose in Q1 2024 to $75.7B, while IPOs stayed low, with no FinTech IPOs in Israel for 2023. In contrast to many global FinTech s that focus on mergers as an exit strategy, Israeli FinTech companies emphasize acquisitions, showcasing financial stability and strategic foresight.
• In 2023, six acquisitions ranged from $40M to $610M, illustrating the sector’s maturity. Israeli FinTech funding showed stronger trends than the overall sector funding in Israel, even as global FinTech financing lagged behind other sectors. FinTech held 18% of all capital raised in Israel in 2023, second to cybersecurity at 26%.

Regional dynamics play a crucial role in shaping FinTech ecosystems. Recent events in Israel have negatively impacted its startup and FinTech ecosystem. Despite these setbacks, the overall Israeli startup ecosystem has shown remarkable resilience. It raised $1.8B in funding in Q1 2024, marking an 8.5% increase from Q4 2023. This sustained investor engagement is evident. For instance, FundGuard, an AI-powered investment management platform, raised over $100M in a Series C funding round in Q1 2024. Other standout startups have also secured substantial funding during the first quarter of 2024. Anecdotes, a cloud-based data management platform, raised $25M in a Series B funding round. Oobit, a promising crypto startup, secured $25M in a Series A funding round. These startups attracted funding from notable investors such as Glilot Capital Partner, Vintage Investment Partners, CMCC Global’s Titan Fund, Team8, and Blumberg Capital.

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