European Investment Fund Increases Funding To Israeli Startups

February 17, 2016 | The European Investment Fund (EIF) and Israel’s Bank Leumi, along with LeumiTech, the high-tech banking arm of Leumi, have signed an agreement to increase lending to Israeli innovative startups under ‘InnovFin – EU finance for innovators’, an initiative supported by the European Commission. The new agreement allows Bank Leumi to provide finance amounting to $100 million to innovative companies in Israel with the support of a guarantee provided by the EIF and backed under ‘Horizon 2020,’ the EU Framework Programme for Research and Innovation. This is the first InnovFin SME guarantee signature in Israel, enabling Leumi, Israel’s leading innovative finance provider, to offer innovative companies additional financing at favourable conditions.