LeumiTech, a wholly owned subsidiary of Leumi Group, has expanded global presence by launching its London operation.

LeumiTech offers a range of services such as working capital, acquisition and bridging finance to various clients from start-ups to established technology firms.

In addition, it also provides letters of credit and guarantees, currency and interest rate hedging, deposits as well as an online banking facility.

The new London branch will be managed by Shalhevet Mandler, who will also lead the UK Israeli desk.

"As one of the leading finance providers in the hi-tech sector, it is obvious that we need to be in London. We will be working with our sister offices in the US and Israel to continue promoting the financing and development of the hi-tech industry in Israel and around the world," Mandler said.

LeumiTech CEO Yifat Oron added: "Already dozens of Israeli tech firms have opened up offices in the city, and LeumiTech is perfectly positioned to help them. We know the Israeli tech sector like the back of our hands, and Bank Leumi has been operating in London for more than a century.

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"I have no doubt that our new London LeumiTech operation will be of great help both to Israeli tech companies that seek to operate in Europe and European tech companies doing business with Israel."