First Digital Bank, first Israeli bank in over 40 years, raises USD 120m
The First Digital Bank, the first Israeli bank to be established in more than 40 years, is raising $120 million from local and international investors led by Swiss bank Julius Baer, Chinese technology giant Tencent, and Japanese financial group SBI.
The bank, founded by Amnon Shashua, began a running-in period, with the aim of gradually launching activity with the general public in early 2022. The bank’s management says that it has over 60,000 people on its waiting list, according to Globes.
Yigal Arnon‘s Simon Weintraub, Nataly Margalit, and Yuval Shalheveth, together with Hong-Kong co-counsel, Baker & McKenzie, represented Tencent, one of the largest Internet companies in China, and the largest investor.
Meitar represents the bank, and Herzog Fox & Neeman is advising the investors in the due diligence examination.
