This is the second financial move that the Asian group has made into Israel's financial tech sector.

Fosun, the Hong Kong-listed conglomerate that has bought European private banks and financial organisations as part of its expansion strategy, said that two of its entities have invested $65 million in the Israeli fintech company, Fosun, its second financial tech investment in Israel.

As part of the move, Fuson will join The Floor’s board of directors.

The Floor is based at the Tel Aviv Stock Exchange and operates a branch in Hong Kong. It was set up in 2016, with the aim of bringing Israeli technologies to Asia and to connect with local players.  Recently, it established a branch in Hong Kong. In May 2018, The Floor announced its partnership with TASE in order to jointly establish a blockchain securities lending platform. 

The company has been dedicated to leading several R&D initiatives capable of delivering new technologies to financial institutions, alongside plans for global business expansion, especially in China.

Fosun, which was created in 1992, has total assets of around $81 billion, investing in various sectors including wealth management. As reported this March, Fosun has signed a co-operation pact with HSBC as part of its growth plans. The group, which owns companies across a number of sectors, has bought non-domestic wealth and asset management firms as part of its growth strategy. At the start of March, for example, Fosun bought Brazilian asset manager Guide Investimentos for $52 million; it also purchased Hauck & Aufhäuser, the venerable German private banking and financial firm.

In 2015 Fosun launched a financial platform for its investment and asset management business in Russia and neighbouring countries. However, not all of its bids have been successful; in 2015 it pulled out of an attempt to acquire BHF Kleinwort Benson.