BLender, the Israel-based P2P lending platform, announced the first milestone in its global expansion, opening new offices in Milan, Italy, and Vilnius, Lithuania to serve customers in Italy and the Baltic region.
“Offering multi-national P2P lending has been our vision since BLender’s establishment,” BLender CEO Dr. Gal Aviv told Finance Magnates. “Since our Israeli launch in 2014, we have built the foundation, infrastructure and technology to enable BLender to operate in the global market, so we will be able to face operating, cultural, technological, regulatory and taxation challenges.”
BLender’s nano physicist founder explained the move in an interview with Finance Magnates, noting that the fintech startup would continue its global expansion into markets needing consumer credit with plans to launch operations in Africa, Latin America and other EU countries in 2017.
“BLender identified a credit gap in countries where the supply of consumer credit is insufficient for the populations’ needs and is priced very high, and a gap in other countries where the savings options have very low or even negative yield,” opined Blumberg Capital Founder and Managing Partner David Blumberg. “BLender’s multi-national lending options mediate this credit gap by creating a meeting ground between borrowers from countries that lack consumer credit, to lenders from countries where the yield on their savings in insufficient. We support and strongly believe in the vision, management capabilities and business potential of the BLender team.”
Blumberg Capital led BLender’s last funding round. In other news, BLender was chosen to participate in the ELITE program of the London Stock Exchange that finds and nurtures companies with the potential for an IPO. In June the Israeli Investment House Psagot announced an agreement to purchase 20% of BLenders’ activity in Israel.