The group’s revenues (gross) (NON-GAAP, in accordance with the manner of reporting as part of the description of activity segments in the reports for 2021) amounted in the third quarter of 2022 to approximately 18.8 million shekels, a growth of approximately 96% compared to 9.6 million shekels in the third quarter of 2021. The company reports a significant increase in the volume of loans given to customers – about 132.6 million NIS in the third quarter of 2022, an increase of 154% compared to 52.1 million NIS in the third quarter of 2021.
As part of the preparations for receiving the banking license and the start of the joint activity with Bank Hapoalim in the field of BNPL, the controlling owner, the Aviv family, has transferred a total of NIS 10 million to the company, as a down payment for the rights issue that the company is planning in the coming weeks.
Blender Israel
The balance of the loan portfolio in Israel amounts to approximately NIS 541.8 million as of September 30, 2022 – an increase of 51% compared to September 30, 2021. The accounting revenues in Israel (gross) (NON-GAAP, in accordance with the method of reporting as part of the description of activity segments in the reports for 2021) amounted to In the third quarter of 2022, approximately NIS 13.9 million, an increase of 83% compared to the third quarter of 2021.
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The number of paying customers in Israel increased to approximately 53 thousand, an increase of 40% compared to approximately 38 thousand on September 30, 2021. Blender Israel’s operations maintained a positive cash flow in this quarter.
Blender reports on the continued expansion of the activity of providing credit at the points of sale (BNPL – Buy Now Pay Later), with an increase of about 332 points of sale. In total, the deployment of blenderPay has increased to 2,464 points of sale and e-commerce sites (including distribution points in Europe and car dealerships). Among other things, the blenderPay service is currently embedded in leading networks such as Sunny, iStore, Samsung Israel, Elektrik warehouses, Shechem Electric, Bug, Naturfil and more. blenderPay is a fast, efficient and convenient financing solution for customers (especially for large purchases), which helps businesses to increase sales turnover.
Blender also reports on the start of vehicle credit activity based on a NIS 50 million credit line from Mizrahi-Tefahot Bank. The company specializes in providing credit for second-hand and “zero km” cars.
Blender Europe
The balance of the loan portfolio in Europe amounts to approximately NIS 194.3 million (including the LTL transaction and in exchange rate translation), as of September 30, 2022 – a 3-fold increase compared to the balance of the portfolio on September 30, 2021.
The accounting revenues in Europe (gross) (NON-GAAP, in accordance with the way of reporting as part of the description of activity segments in the reports for 2021) amounted in the third quarter of 2022 to approximately NIS 4.9 million (including LTL revenues), an increase of 145% compared to the third quarter of 2021.
Loans advanced in Europe – approximately NIS 17.4 million in the third quarter of 2022 (including NIS 7.7 million provided by LTL), compared to NIS 13.4 million in the third quarter of 2021. The number of paying customers in Europe increased 1.5 times to approximately 9,200, compared to approximately 6,200 on September 30, 2021 The application for an LTL banking license submitted by the company is currently in the advanced stages of the approval process.