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blender
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The company that develops and operates credit and savings systems has announced the acquisition of about 77% of a Lithuanian credit union for about NIS 18 million. Through the acquisition, the company hopes to become a pan-European digital bank, since the acquired company holds a certificate in principle for converting its area of activity to the bank, and is working to obtain a banking license.
According to the company’s announcement, the acquired corporation, unija Kredito L specializes in real estate credit, and manages deposits of about NIS 124 million, with an average interest rate of about 2.2%. The corporation’s credit portfolio stands at about NIS 112 million, and it holds capital In addition, the corporation holds a certificate in principle for the conversion of its field of activity, from a credit union to a bank, and is in the process of obtaining a bank license in Lithuania.
According to the company, the purpose of the transaction is to turn Blender into a pan-European digital bank that specializes in providing mortgages, real estate-backed credit and consumer credit. And loans to households backed by real estate.
Dr. Gal Aviv, CEO of the Blender Financial Technologies Group: “The deal is another step in realizing Blender’s vision to become a market leader in digital credit banking in Europe. We believe that the deal and obtaining a bank license will be completed during the second quarter of this year. This is a significant move “New and diverse sources of financing, while increasing the overall profitability of the company’s operations. We continue to work for the company’s growth as part of our vision to lead a model of new technology-based banking.”
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