Company-building venture group Team8 has announced it is launching Team8 Fintech to help found and scale new disruptive fintech companies. Team8 Fintech will create transformative B2B and B2B2C companies that utilize innovation in technology and business offerings to satisfy customer needs in a fast-changing environment, accelerated by COVID-19.
"Today, we are joining forces with giants,” said Team8 Platform Managing Partner Nadav Zafrir. “Financial Services are first and foremost about Trust. To make them more efficient, available and ultimately fair, Digital Trust is paramount. And Digital Trust is dependent on Cyber Security and Privacy - a natural habitat for Team8. Assembling this all-star team is a rare event and is gearing us with the talent, gravitas and exceptional leadership skills to build transformative fintech companies. This cements another important milestone in Team8's journey as we expand our foundry model and become a multi-sector venture group."
Team8 Fintech will be led by Managing Partner Rakefet Russak-Aminoach, the former President and CEO of Israel’s largest bank, Leumi Group. Ms. Russak-Aminoach is a respected digital banking pioneer who has been recognized in Fortune Magazine’s “100 Most Powerful Women” three times, as well as BBC’s "100 Most Inspirational and Influential Women”.
"The financial industry is facing a perfect storm, with inevitable changes and advancements already underway," said Ms. Russak-Aminoach. “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. 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."
Ms. Russak-Aminoach will be assisted at Team8 Fintech by fellow Managing Partners Yuval Tal and Ronen Assia. Former Head of Business Development for PayPal across Eastern Europe, Israel and Africa, Galia Beer-Gabel, will serve as VP of Business Development and Operations.