Digital Bank One Zero Explores Sale Amid Investor Interest

Amnon Shashua, the founder and controlling shareholder of the digital bank One Zero, is reportedly exploring the sale of his controlling stake. Sources indicate that in recent weeks, representatives of the bank, led by CEO Eyal Gafni and Chairman Shuki Oren, have been holding meetings and presentations with potential buyers. At least three entities have entered the bank's data room for the process: investment house Meitav, businessman Motty Ben-Moshe, and credit card company YSRAcard. YSRAcard had previously held talks for acquiring the digital bank Ash, which were halted but could potentially resume. Talks also occurred with Rami Levy and Insurance Direct Group, but did not progress, as both are reportedly seeking a leaner bank. Shashua, who acquired One Zero from Marius Nacht in 2020, is seeking a valuation of 1.1 to 1.2 billion shekels for the bank. He currently holds approximately 60% of the shares, with other investors including Julius Baer, Tencent, and the Hebrew University holding the remainder. Shashua commented to Calcalist that "the information is incorrect" and that "there are discussions about investments in white label and the like." A significant gap reportedly exists between Shashua's valuation demands and what potential buyers are willing to pay. The transaction structure may involve capital injection into the company alongside the potential purchase of some of Shashua's shares, reducing his stake to minority status. Sources close to the negotiations suggest Shashua, who has injected $114 million into the bank since acquiring it, wishes to focus on his other ventures, particularly artificial intelligence companies. He recently stepped down as CEO of Mobileye, which he co-founded and sold to Intel. One Zero's advantages include its proven technology and a "lean bank" license, which significantly shortens the lengthy process for buyers to obtain such a license independently. Potential buyers would still require approval from the Bank of Israel. According to the bank's data, One Zero opened 25% of all new bank accounts in the first half of 2026 and reached 200,000 customers, claiming to have spurred competition against larger banks. The bank projects profitability by 2027, though some potential buyers are skeptical, noting the bank has long claimed to be nearing profitability without achieving it. As of the end of the first half of 2026, the bank's equity stood at 53 million shekels, but its cumulative losses since inception reached 1.3 billion shekels. Losses are projected to decrease to 130 million shekels in 2026, down from 214 million in 2025. The bank's income in the first half of 2026 was 66 million shekels, a 33% increase year-over-year, while expenses decreased by 10% to 149 million shekels. Total assets under management are 7 billion shekels, with public deposits at 3.8 billion shekels. Shashua himself has reportedly met with some interested parties to present the acquisition's merits. For Meitav, acquiring One Zero could be a significant step into providing new credit sources and improving margins. Ben-Moshe aims to hold a lean bank and previously made a high bid for Cal. YSRAcard, controlled by Yitzhak Tshuva, sees the acquisition as a natural fit to establish a leading financial services company, having previously explored acquiring the digital bank Ash. One Zero, founded in 2019 by Marius Nacht and launched publicly in 2022, has faced challenges in its growth pace, leading to multiple rounds of layoffs, including 30 employees in the past month, 30 in January 2024, and 23 in September 2023. The bank's last funding round was in December 2021, raising $120 million.