Blender Financial Technologies has announced the signing of a deal for a new line of credit

by time news

Dr. Gal Aviv:

“The fourth line of credit from Eiffel is an expression of the group’s confidence in the company and its activities.”

Blender Financial Technologies (BLND @ TASE) has announced the signing of a deal for a new line of credit from the French investment group Eiffel, amounting to about 5 million euros. This is the fourth line of credit that the company receives from the investment group, with the group’s total investment in the company standing at approximately NIS 63 million (approximately 18 million euros). The amount of the transaction will be used to expand the activity of providing consumer credit as part of a blender activity in Lithuania, which includes, among other things, providing credit for the purchase of a car, credit for the purchase of products (Buy Now Pay Later) and loans for any purpose.

Eiffel is an investment group that manages alternative assets worth about 3.5 billion euros. The group invests in a wide range of companies in the field of credit, equity and debt. The deal with Blender is intended to finance the expansion of financing for loans and the provision of consumer credit to the company’s customers in Lithuania.

Blender activity in Europe is on a significant expansion trend. The company has entered Poland in the past year, which is a significant country in the field of the consumer credit market, and recently announced the completion of the formal application for a pan-European digital bank license.

Blender led the line of people-to-people lending when it was founded in 2014. Today it is leading the BNPL (Buy Now Pay Later) revolution – as part of which it allows through BlenderPay, to pay in installments using non-bank credit digitally and simply on websites E-commerce and points of sale.

From the words of Dr. Gal Aviv, CEO of the Blender Financial Technologies Group:

“The fourth line of credit from Eiffel is an expression of the group’s confidence in the company and its activities.

For us, Eiffel is a natural partner for activity in Lithuania and in the company’s growth potential in the field of digital consumer credit in the country. This is a large and significant investment body that has been expressing confidence in an Israeli fintech company for over 5 years, a partnership that is an example of a bridge between European investors and Israeli technology companies. “

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