Israel Active

Israel’s Melio helps small businesses to better manage their cash flow during the pandemic. It allows them to transfer and receive payments in a faster, easier way. The workforce of Melio has increased from 35 to 125 since the start of the year and its volumes increased 700% in the last 6 months.

Israel’s Joy Ventures seeks out and supports organizations that are actively working on wellness solutions to help those suffering from the ‘new world’ brought on by Covid-19. Its portfolio includes Sanga (meditation) and virtual personal fitness coach Vi Technologies (reported previously.

Israeli fintech company Payoneer (reported previously) is recruiting 300 new employees, half of them in Israel and the other half across its dozens of branches around the world. There has been a huge demand during the Covid-19 pandemic for Payoneer’s online money transfer and digital payment services.

UAE-based private equity and venture capital fund KEN Investments has led a $5.8 million investment in Israel’s Salaryo, which provides credit and digital banking services to small businesses in the U.S. It is said to be the first time an Emirati fund has openly invested in an Israeli company.

Israel’s Scoop Shoes is opening five stores in Dubai and Abu Dhabi, the first such endeavor for an Israeli retailer. Scoop’s owners, brothers Ronnie and Freddie Insaz, partnered with Bethlehem businessman George Bassus, who has offices in Dubai, to establish the venture.

The Southern California Israel Chamber of Commerce is publicizing a webinar (Mon 14 Sep) featuring the UAE’'s new Minister of Economy, Abdulla bin Touq Al Mari, on the business implications of the historic Abraham Accord.

The Tel Aviv Municipality along with Google and Microsoft and others are to hold Israel’s “biggest 24-hour online bootcamp” on 15th & 16th Sep. The aim is to turn the ideas of at least 100 of the 500 participating fledgling entrepreneurs into new startup companies.

Despite having no vehicle manufacturing companies, Israel has been accepted as a member of the International Organization of Motor Vehicle Manufacturers (OICA). Israel’s advanced auto-tech industry was sufficient qualification.

Israel’s reserves of foreign currency rose by another $4 billion to a more than $161 billion – the fifth consecutive month they have reached record levels.

Israelis Orit Alperovitz and Inbal Polak were sick of being the only women in the room, so, they started a women-only investor club. NEOME was founded for the explicit purpose of getting more women involved in investments. It has 50 members, meets every month and has made major investments.