Denis Efremov: I would actually compare Cyprus’ fintech industry to Israel or Singapore (video)

Jacqueline Theodoulou 07:00 - 21 December 2024

Financial Services

“Cyprus is a hub because of the variety of fintech players present on the ground,” Denis Efremov, Principal at R136 Ventures, told CBN at the Cyprus Fintech Summit that took place at the Crowne Plaza Hotel in Limassol on 6 December. “And I think that’s special. I would actually compare Cyprus to Israel or Singapore, because the local market is fairly small and most of the companies are aiming global from the very first day.”

According to the expert, the fact that entrepreneurs can get to work in the global market from day one makes the island’s fintech community “so special”.

Watch Efremov’s full interview below, where he delves into the main trends but also challenges driving the fintech industry:

Efremov specialises in B2B tech and fintech investments at R136 Ventures, a Mid- to Late-Stage venture capital firm primarily supporting Israeli or US-based startups. Noteworthy fintech startups in the past and current portfolio include eToro, Blockchain.com, Roofstock, Clearcover, Ladder Life, and Insurify.

In addition to his primary role, Efremov serves as a mentor at Alchemist Accelerator.

He has played a key role in 15+ deals amounting to over $120M and has contributed to the launch of several funds totaling more than $250M.

Denis Efremov: I would actually compare Cyprus’ fintech industry to Israel or Singapore (video)

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