Israel’s One Zero digital bank seeks to raise up to $100m led by Deutsche Bank
One Zero, a digital banking start-up based in Tel Aviv, Israel, is reportedly seeking to raise up to $100 million from foreign investors.
One Zero seeks to raise up to $100m in funding
Founded in 2019 by Amnon Shashua and Marius Nacht, One Zero offers private banking services including credit cards, loans, investments and foreign currency exchange, and is currently valued at $320 million.
According to a source at Globes, the bank is now intending to raise between $75 and $100 million via a private placement financing round, having adjusted its previous target of between $100 and $200 million.
While One Zero actively presents its business proposal to investors overseas, it’s reported that Deutsche Bank – which this week announced the planned closure of some of its Postbank branches – will lead the round.
Should it land the financing, One Zero says it intends to use three-quarters of the funds to run its operations in Israel, while the remaining amount will be applied to fuel its expansion across Europe.
The bank states that it hopes to establish itself within four to five markets in the continent, including Italy, where it began the regulatory approval process in June in preparation for a commercial launch in H2 2025.
The exact closing date of its latest financing round has not been disclosed, and as of the time of writing, it remains unclear which firms will be participating.
