Fosun's Partnership will Promote The Floor's Unique Platform to Asia's Financial Industry and Accelerate its Global Business Expansion
Fosun and Fosun Hani Securities Limited ("Fosun Hani") jointly announced a strategic investment of US$5 million into Israeli fintech company, The Floor. This marks Fosun's second fintech investment in the State of Israel, and Fosun will join the Board of Directors of The Floor.
The Floor is headquartered at the Tel Aviv Stock Exchange (TASE) and operates a branch in Hong Kong. As a global fintech platform working with six of the world's largest financial institutions, The Floor is shaping the 'Bank of The Future' by leveraging Israeli exceptional technologies and expertise in verticals including fintech, blockchain and cyber.
Founded in 2016, The Floor has rapidly positioned itself as a tier-1 innovative solutions provider by helping global financial institutions to tackle their business pain points. The company's long term vision is to bring Israeli technologies to Asia and connect with local players. Recently, The Floor has established a branch in Hong Kong. In May 2018, The Floor announced its strategic partnership with TASE to jointly establish a blockchain securities lending platform. The company has been dedicated to leading several R&D initiatives capable of delivering new technologies to financial institutions, alongside plans for global business expansion, especially in China.
Guo Guangchang, Chairman of Fosun International Limited said, "We are pleased to have The Floor to join the Fosun Family. As a family-focused multinational company rooted in China and with profound industrial operations capabilities, Fosun's mission is to create global ecosystems in 'health, happiness and wealth' through technology and innovation. The Floor will assist Fosun to radiate Israeli fintech companies and introduce advanced technology and industries to Fosun's platform, and fulfill our mission of providing high-quality services and products for family customers around the world."
Yao Wenping, Vice President of Fosun International Limited, Chairman of Technology and Financial Group said, "The Technology and Financial Group, serving as one of the key driving forces of Fosun's wealth ecosystem, has been actively scouting for leading fintech companies globally. The investment in The Floor can accelerate the implementation of the group's key investment projects. In addition, The Floor can also inject new vitality into the technology and financial group as well as to Fosun's wealth ecosystem."
Charles Xie, Co-CEO of Fosun Hani said, "Fosun Hani has an experienced and professional finance team, while The Floor has many top-tier fintech companies on its platform. The cooperation between the two companies can empower each other in the financial and technology aspects. Furthermore, The Floor can be effectively integrated into Fosun's global happiness ecosystem with a view of providing our customers with tailor-made financial services and products."
Avi Cohen, Co-Founder and CEO of The Floor said, "Introducing Fosun as a strategic investor of The Floor is an important step towards our vision of improving the financial industry. As a start-up serving tier-1 multinational banks, our aim is to partner with global players like Fosun to promote our platform and expand our business scale. The Floor is shaping future technologies across fintech verticals and we believe that Fosun will lead us to the fast track to becoming a market leader."