back Back

FinTech startup Avenews-GT raised $3 million funds from XT Hi-Tech

By Leandra Monteiro

February 23, 2021

  • Israel
  • Xt Hi-Tech
Share

FinTech, start-up, Avenews-GT, XT Hi-Tech, funding, Israel, agricultural, digital

Tel Aviv-based Avenews-GT, a digital agricultural trading platform, today announced a $3 million series seed fund raise from global holding group, XT Hi-Tech.

“The streamlining and promotion of agriculture today are a central focus of global attention as we work to solve the problem of food insecurity for billions of people. Increasing access to farmers mostly in developing countries for supply chain digitization, credit and other banking services through Avenews-GT’s fintech platform will advance this goal, and we are excited to take part in this important effort,” said XT Hi-Tech Chairman Udi Angel. “I am proud that Avenews-GT has chosen us as partners to enhance the often-underserved business sector of farming.”

Avenews-GT a FinTech was founded in 2017 by Shalom Ben-O, Ishai Ben-Or, and Ismail Kharoub. The company connects financial institutions and agri-businesses through a digital infrastructure that is blockchain capable and directly links trade activity with financial services.

“As someone who grew up in an agricultural community, I know first-hand the challenges farmers face when trying to connect with buyers in an increasingly digital world,” said CEO Shalom Ben-Or. “At Avenews-GT, we offer clients a way to manage their business and trade operations through a single, paperless system that can track their sales and contracts, and open access to financial institutions.”

Currently, the FinTech startup Avenews-GT works in collaboration with banking groups on the African continent, where agriculture accounts for about a third of gross domestic product.

XT Hi-Tech was established in 1997 as the venture arm of XT Holdings, a global holding group. XT Hi-Tech invests in Israeli technology start-ups in various fields and to date completed more than 80 investments generating superior return throughout the years.

Previous Article

February 23, 2021

Apex Clearing merges with Northern Star Investment Corp. II to become a publicly listed company

Read More
Next Article

February 23, 2021

Fair Money Advice and Elifinty to transform debt advice service in the UK

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

Israel

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 23, 2024

Vencora acquires CREALOGIX to expand its banking technology services

Read More

February 23, 2024

Axway to buy most of Sopra Banking Software activities for €330m

Read More

February 22, 2024

Kani Payments taps Pismo for data reconciliation and reporting

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023