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Fosun Announces Strategic Investment into Israeli FinTech Platform The Floor

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Fosun Announces Strategic Investment into Israeli FinTech Platform The Floor

PR Newswire

Fosun's Partnership will Promote The Floor's Unique Platform to Asia's Financial Industry and Accelerate its Global Business Expansion

SHANGHAI and TEL AVIV, Isreal, Aug. 16, 2018 /PRNewswire/ -- 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 fulfil 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."

About Fosun

Fosun was founded in 1992. Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656.HK) since 2007, with total assets exceeded RMB530 billion (c.US$81 billion) as of December 31, 2017. With its roots in China, and through technology and innovation, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world. For more information about Fosun, please refer to https://www.fosun.com/.

About Fosun Hani

Fosun Hani is Fosun's only integrated financial services platform and an important investment entity in Hong Kong. Based on Hong Kong, grafting mainland China's power, radiating the world, Fosun Hani provides comprehensive and integrated professional financial services for Fosun's internal and external customers. Founded in 1987, formerly known as "Hani Securities (Hong Kong) Co., Ltd.", it was acquired as a wholly-owned subsidiary by Fosun International Limited (0656.HK) in September 2014 and renamed as "Fosun Hani" in January 2016. Since then, Fosun Hani has become an important part of Fosun's overseas financial strategy and the key part of Fosun's wealth ecosystem. Furthermore, Fosun Hani has comprehensively enhanced Fosun's investment and overseas asset management capabilities. For more detailed information, please refer to https://www.fosunhani.com/

About The Floor

The Floor, based at the Tel Aviv Stock Exchange (TASE) and Hong Kong, is a global fintech platform working with six of the world's largest financial institutions. Empowered by its tier-1 bank partners, The Floor operates a Reverse Innovation Platform through which it sources business pain points and transforms them into innovative solutions. For more on The Floor: www.thefloorhub.com

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