After Blender’s stock fell by 40% in the last three months, the fintech and non-bank credit company is providing investors with a positive update today.
Blender, controlled by the Aviv family, reported receiving a Capital Market Authority permit for its joint venture with Bank Hapoalim to provide digital consumer credit for financing at points of sale and e-commerce websites. Hapoalim will own 20% of the venture and Blender 80%.
The venture, which will be called Blender Pay, should provide credit in a period of less than a minute to consumers at the points of sale. The agreement signed last November was led on behalf of Hapoalim by Avivit Bender, who is responsible for corporate business development and cooperation with fintech companies at the bank. The payments financed by the company will be for purchases over NIS 1,000, with an interest rate of 11% per year and a wide spread of payments.
Blender Pay already operates the service in a thousand points of sale and has signed cooperation agreements with companies such as Shekem Electric, Electrical Warehouses, Ai Digital, KSP and more. and ksp electrical warehouses and digital and more. Gal Aviv leads the activity as chairman.
Against the background of the sharp declines recorded in Beblender as mentioned in recent months, the failure of its attempt to obtain a bank license in Lithuania – the company expected that the license would have allowed it to enter into operations in Europe.