Investment in Israeli financial technology companies rose by 107 percent in 2019, reaching a record $1.8 billion, according to a report released on Wednesday by NGO Start-Up Nation Central.

Israel is ranked fifth in the world in fintech investments after China, the United States, Britain and India, and accounts for 5.1 percent of global investment in the field, according to Reuters.

Six capital rounds raised by Israeli fintech companies in 2019 totaled more than $100 million, compared with only one in the previous year.

Meanwhile, the U.S.-Israeli fintech company Pagaya announced on Wednesday that it had raised $102 million, reported Reuters.

The company’s artificial intelligence system manages some $1.6 billion of assets in banks, pension funds and other institutions.

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