The top of the Tel Aviv Stock Exchange is dominated by financials, real estate, defense, energy, and industrials — not technology. That's the inverse…
Capital & Finance · 60 stories · Updated Sep 11, 2026
Fintech & Public Markets
Israeli financial technology businesses are changing how money moves, while stock markets test their prospects and put a price on their growth.
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60 storiesThe Largest Companies on the TASE by Market Cap
The top of the Tel Aviv Stock Exchange is dominated by financials, real estate, defense, energy, and industrials — not technology. That's the inverse of the Nasdaq-listed Israeli universe.
Read →Israeli fintech ran the largest public-markets year of the post-pandemic cycle.
Per Calcalist, three Israeli tech companies completed IPOs in 2025 — Via, eToro, and Navan. Per Ynet, eToro debuted on Nasdaq on May 14, 2025 at a $4.3 billion offering valuation; the stock rose nearly 29% on its first trading day. Per Calcalist and Reuters, Navan listed on Nasdaq on October 30, 2025 under ticker NAVN, raising $923 million at an implied $6.21 billion valuation.
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The wider funding architecture moved alongside. Per Startup Nation Central, Wix and Check Point both raised through convertible bond offerings — Check Point's first capital raise since its IPO three decades ago. Combined public-market activity contributed roughly $10.3 billion to Israeli companies in 2025.
The exchange itself reorganized. Per Globes, the Tel Aviv Stock Exchange completed a NIS 350 million secondary offering in January 2024. Bill Ackman and Neri Oxman acquired a 4.9% stake for approximately $25 million. Foreign investors now own more than half of TASE. The Palo Alto Networks–CyberArk transaction added a high-profile dual-listing precedent: per Palo Alto Networks investor releases, the company plans a secondary TASE listing under ticker "CYBR."
Underneath the listings sits a deep private fintech stack — payments, B2B finance, insurtech, blockchain, and embedded finance. Pagaya, Lemonade, Payoneer, and Forter are public; Rapyd, Melio, Tipalti, Bluevine, and StarkWare are private. Per Beinsure data, StarkWare alone holds an $8 billion valuation as the leading Israeli blockchain and zero-knowledge cryptography company.
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Reference and analysis
Long-form reference entries in Fintech & Public Markets
- StarkNet and the L2 Race
StarkNet is the only Israeli-originated Ethereum Layer 2 with meaningful adoption. Its position in the broader L2 compet…
- Fireblocks and the Institutional Custody Moat
Fireblocks is the Israeli company most embedded in traditional financial institutions adopting digital assets. The MPC c…
- The Digital Shekel — The Design Choices That Matter
The Bank of Israel's digital shekel program is among the most advanced CBDC efforts globally. The design choices being f…
- The Digital Shekel Programme
The Bank of Israel's digital-shekel project is one of the more advanced central-bank digital currency (CBDC) programmes…
- The 2025 Israeli IPO Cycle: eToro, Navan, Via, and the Public-Markets Reopening
- StarkWare and the ZK Stack
StarkWare is the most institutionally significant Israeli company in the crypto layer. Its zero-knowledge proof technolo…
- eToro's $4.3 Billion Nasdaq IPO: The May 2025 Listing
- The TASE 35: Sector Weight, Composition, and the Israeli Large-Cap Public-Equity Architecture
- The Major-Cap Israeli Public Equity Universe: How Israeli Market Capitalization Distributes Across Nasdaq, NYSE, and TASE
- Navan's $6.21 Billion Nasdaq Listing: The October 2025 IPO
Israeli Fintech & Public Markets — The Olam Reference
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