One Zero Controller Amnon Shashua Explores Sale of Digital Bank
Amnon Shashua is exploring the sale of digital bank One Zero at a valuation of 1.1 to 1.2 billion shekels. Despite narrowing losses and reaching 200,000 customers, the bank has accumulated 1.3 billion shekels in losses since its founding.
Amnon Shashua, the controlling shareholder of Israel's digital bank One Zero, is reportedly exploring the sale of his stake in the institution. The move comes as the bank works to narrow its losses and approach profitability, nearly seven years after its initial founding.
Founded as a venture to challenge Israel's traditional banking oligopoly through advanced technology and lower costs, One Zero faced significant hurdles. Since its inception, the bank has accumulated 1.3 billion shekels in losses, underwent ownership and management shakeups, and shelved plans for international expansion.
The Path from Startup to Digital Bank
The project began in early 2019 when Marius Nacht, co-founder of Check Point Software Technologies, submitted a digital banking proposal to the Bank of Israel. Shashua, founder of Mobileye, joined later that year, and Nacht eventually exited in 2020, leaving Shashua as the primary backer. The bank secured a limited banking license in December 2019, began onboarding customers in early 2022, and launched publicly in August of that year.
Despite gathering around 200,000 customers, One Zero has struggled to pose a serious threat to the major traditional lenders. Its early subscription-fee model acted as a barrier to mass adoption, prompting shifts in strategy. The bank later introduced salary-linked promotions, free introductory periods, and expanded access to independent capital market trading services.
Financial Turnaround and Potential Buyers
Financial statements show that the bank's losses peaked at 357 million shekels in 2023, before declining to 268 million shekels in 2024 and 214 million shekels in 2025. In the first half of 2026, the bank posted an 84 million shekel loss, a 27% decrease compared to the same period last year.
Shashua, who holds approximately 60% of the bank and has poured 114 million dollars into it over the years, is now evaluating a sale based on a valuation of 1.1 to 1.2 billion shekels. CEO Eyal Gafni and Chairman Shuki Oren have held discussions with potential buyers, including Meitav Investment House, Isracard, and Moti Ben-Moshe.
Upcoming Competition and Market Outlook
While acquiring One Zero offers a shortcut for institutions seeking to enter the banking sector with an established license and technological infrastructure, competition is intensifying. Global digital banking giant Revolut is preparing to enter the Israeli market, localizing its name to Revolut Bank Israel as it eyes the digital-savvy customer base.
