Fintech heavyweights launch new venture – Team8 Fintech
Team8 – a global venture group specialising in enterprise technologies, data, AI and cybersecurity and backed by the likes of Barclays, Microsoft, Walmart, Cisco – launches Team8 Fintech, a practice focused on founding and scaling fintech companies.
In the absence of a “school of fintech”, Team8 Fintech which is led by an established group of financial and fintech entrepreneurs, believes that good ideas, capital and superior-tech is not enough to make it in the world of financial services – and venture should be about coaching, support and the environment to breed innovation.
The people spearheading the venture are:
- Ronen Assia who founded social trading network unicorn eToro
- Yuval Tal who founded digital payments unicorn Payoneer
- Rakefet Russak-Aminoach, a listed Fortune Magazine’s “100 Most Powerful Women”, who led the fintech revolution in Israel at Bank Leumi with the creation of Pepper (Israel’s first and only neobank)
- Galia Beer-Gabel who held senior roles for PayPal internationally
The Team8 Fintech mission is to create both B2B and B2B2C companies that empower industry players with new technologies and new business offerings to ensure they stay relevant and gain a competitive advantage. Team8 Fintech will leverage Team8’s signature foundry model of company building, ideating novel solutions to address the problems and opportunities of its target audience. The foundry will partner with exceptional entrepreneurs to co-found new companies, bringing together its domain expertise and company-building capabilities to mitigate the complexity of building companies for this highly regulated and fragmented market; ultimately accelerating the path to success.
“The financial industry is facing a perfect storm, with inevitable changes and advancements already underway. Understanding the challenges and complexities of incumbents or other enterprises to innovate from within, my passion is to build the type of companies I would have wanted to collaborate with in my previous role as CEO of a bank. I see great opportunities in leveraging new technologies to completely reinvent financial services, drive efficiency and improve customer experience,” said Rakefet Russak-Aminoach, Founder of Team8 Fintech. “In order to execute leading-edge fintech, a strong technology partner is vital – Team8 is renowned for its best-in-class technology capabilities and I’m excited about the fintech powerhouse we’re going to build,” she continued.
“We’ve been incredibly impressed by Team8’s approach and track record, and feel they are the ideal partner to help think through some of the challenges and opportunities we all face,” said Ben Davey, CEO of Barclays Ventures.
The Foundry will leverage and extend the Team8 Village – an extensively rich ecosystem of corporate executives and investors that provide an insider’s view to enterprise challenges and fintech opportunities. It will also support startup progression by utilising the group’s in-house team of dozens of domain experts, researchers, ideators, marketers, business developers and talent recruiters.