ONE ZERO Digital Bank Overview
ONE ZERO Digital Private Bank is an entirely digital independent bank with no physical branches. The bank will offer advanced services, including flexible and competitive credit solutions, alongside standard banking services such as current accounts, credit, deposits, and securities management.
Cumulative Funding Raised Over Time ($)
Latest News
growth-positive
One Zero Offices - Tel Aviv | Office Snapshots
ONE ZERO Digital Private Bank, the first independent bank established in Israel in over 40 years, has collaborated with Switchup to design an innovative office space in Tel Aviv. The office features a vibrant and sophisticated environment with bright colors, plants, and wood materials, reflecting the banks digital-first approach. The design includes a central kitchen area to foster employee interaction and collaboration, aligning with ONE ZEROs commitment to a seamless digital banking experience. This new workspace symbolizes the banks dedication to innovation and excellence in the financial industry, enhancing its position as a leader in digital banking.
growth-positive
Exclusive: One Zero, the AI fintech started by the founder of MobileEye, is raising $100M, say sources
One Zero, a fintech company co-founded by Amnon Shashua, is raising at least $100 million to enhance its AI-driven retail banking services. The company, which has already raised $242 million and was valued at $320 million in 2023, aims to democratize private banking services using AI. One Zero has acquired a banking license in Israel and has around 110,000 customers. The company plans to invest in its AI chatbot, Ella, which aims to provide services beyond current banking chatbots. The company has received interest from major banks for licensing its technology.
InvestmentCustomers
growth-negative
"גם בנק גדול היה מבטל תוכניות": חלומות ההתרחבות של וואן זירו בהקפאה
The digital bank וואן זירו, controlled by Amnon Shashua, is laying off 23 out of its 350 employees. The primary reason for these layoffs is the suspension of the banks planned expansion into Italy due to the ongoing war and the associated uncertainties. Despite this setback, וואן זירו remains optimistic about its operations in Israel and estimates that it will achieve profitability within two years.
LayoffsExpand
growth-negative
One Zero lost around $170 million between 2022 and 2023 due to establishment costs as well as ongoing expenses such as salaries and marketing. The bank still expects to reach profitability by the end of 2025.
One Zero, an Israeli digital bank, has faced significant financial challenges, losing around $170 million between 2022 and 2023. The banks joint venture with Italian bank Generali to establish a digital bank in Italy has been temporarily frozen due to security concerns, casting doubt on the projects future. Despite these setbacks, One Zero continues to grow its deposit and credit portfolios, although it remains unprofitable. The bank has announced layoffs affecting 23 employees, representing 6.5% of its workforce, as part of broader cutbacks. One Zero aims to reach profitability by the end of 2025 and continues to recruit new employees. The bank has raised approximately NIS 1 billion from investors, led by Amnon Shashua.
LayoffsPartners
growth-positive
One Zero CEO: Banks should promote economic welfare
One Zero Banks CEO, Gal Bar Dea, spoke at the Globes Tech IL Conference about the role of banks in promoting the economic welfare of their customers. He suggested that banks should not only focus on capital adequacy and profitability but also on reducing the number of customers in overdraft. One Zero Bank is using AI to differentiate itself from traditional banks. The bank has developed an AI named Ella that can perform basic operations and eventually, it will be able to perform operations for the customer without human contact. Bar Dea also expressed his ambition for One Zero Bank to become a large and significant bank in the Israeli system.
CustomersInvestmentExpand
| Sector | Fintech & Insurtech |
Funding
| Total funding | $182M |
| Last funding | Undisclosed |
| Stage | Seed |
| Rounds | 3 |
| Investors | 8 |
Team Members
3
Employees: 201-500
Web & Social Links
| Website | www.onezerobank.com/en/ |
| App Store | App Store |
| Google Play | Google Play |
Locations
Aminadav St 3, Tel Aviv-Yafo, Israel
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