FinTech news in Israel category
The company came to an agreement with investors, according to eToro, that the investment would be converted two years after the signing of the agreement based on the following conditions: that it had not pursued the SPAC transaction or raised any additional capital.
It a tough market for venture capital, but Square Peg Capital is plowing ahead with its focus on Australia (where it is based), Southeast Asia and Israel. Square Peg has a growing footprint in Southeast Asia, where partners Tushar Roy and Piruze Sabuncu are based. Part of Square Peg’s new capital will be used for its core venture fund, which invests in seed to Series B startups. Some of Square Peg’s investments so far from Southeast Asian include LottieFiles, Doctor Anywhere and FinAccel.
The Tel Aviv-based firm aggregates crypto data across different wallets, accounts and platforms, so crypto entities’ financial teams can better understand what happening internally at their business without needing the crypto-native knowledge and experience to gather the information, Zackon said. Its platform can onboard any on-chain or centralized finance data sources and enable financial workflows like balance calculations or auditing and reporting so businesses can monitor and manage their web3 assets both on-ramp and off-ramp, Zackon added. To date, Tres has monitored and analyzed more than $40 billion of crypto assets for customers like Hivemind Capital, non-custodial staking platform Stakely and blockchain infrastructure firm Blockdaemon across the U.S., Israel and Europe, its press release stated. Something like that doesn’t exist today, you have to look at Ethereum data or Solana data one at a time.
New Era raised $60 million for its first fund, where the limited partner makeup was mostly high-net-worth individuals, family offices and founders of large private equity and hedge funds in the U.S. and large U.S. corporations interested in investing in the Israeli ecosystem. The firm raised $140 million for its second fund, and half of the LPs are U.S. and Israeli institutions.