Blender has raised an additional € 5 million from French side Eiffel

by time news

The fintech company that recently expanded to Poland and submitted an official application for approval of a digital bank license in Europe received a total line of credit of 18 million euros from the French investment fund

Illustration: Cio18, Thinkstock

The company stated that this is the fourth line of credit that the company receives from the investment group and that the money raised will be used to expand consumer credit activities as part of Blender’s activities in Lithuania, including credit for car purchases, credit for product purchases (Buy Now Pay Later) and loans for all purposes.

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.

In the past year, Blender has announced that it has entered Poland in the field of consumer credit market and recently announced the completion of the formal application for a pan-European digital bank license.

“Eiffel’s fourth line of credit is an expression of the group’s confidence in the company and its operations,” said Gal Aviv, CEO of Blender Financial Technologies. 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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