BLender, the Israel-headquartered peer-to-peer (P2P) lending platform, today announced the first milestone in its global expansion, with new offices in Milan, Italy, and Vilnius, Lithuania, that will serve customers in Italy and the Baltic region.
As the founder of BLender explained in an interview with Finance Magnates, the fintech startup will continue expanding its global operations into markets in need of consumer credit. In 2017, BLender plans to launch operations in Africa, Latin America and other European Union (EU) countries.
“Offering multi-national P2P lending has been our vision since BLender’s establishment,” said Dr. Gal Aviv, CEO, BLender. “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 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,” said David Blumberg, founder and managing partner, Blumberg Capital, a San Francisco-based venture capital firm that led BLender’s last funding round.
“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.”
Recently 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.