Investment House Acquires 20% of P2P Lending Startup's Business in Israel
- The Israeli FinTech startup BLender offers an alternative to the expensive credit provided by banks and credit card companies.
Israeli Investment House Psagot has announced an agreement to purchase 20% of multinational Peer to Peer (P2P) lending platform BLenders’ activity in Israel, pending regulatory approvals. No financial details from the deal have been revealed yet but it is known that Psagot will be adding its representative to the BLender Israel Board of Directors.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
Psagot is the largest investment house in Israel and manages assets valued at $50 billion for a million individuals, corporations and institutions. It is owned by Apax Partners, a UK-based private equity and venture capital firm.
BLender was selected as one of the most promising fintech companies in 2015 by The British Chamber of Commerce and KPMG. One of its unique features is that it allows lenders to sell their loan portfolios in the secondary market, providing Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term. BLender finalized its Series A round last year, which was led by Blumberg Capital, a Silicon Valley venture capital fund, to finance an expansion in Western Europe and Latin America.
Psagot explains that the deal came after a thorough due-diligence of the field. BLender was chosen because of its technology, which also allows an automatic inspection of the borrowers in countries with no consumer credit rating information, and performs high quality matches between the borrower’s requests and the lenders expectations.
Dr Gal Aviv Ceo Blender (Photo: Sivan Farag)
Dr. Gal Aviv, CEO of BLender, commented: “Israel is an important market for BLender. We are happy about this cooperation with Psagot, this is another step in placing BLender at the front-tier of the consumer credit market in Israel. The technology we have developed bridges gaps and solves the lack of credit rating of borrowers in Israel, and Psagot identified the potential lying in the technology and BLender itself. We offer a quick, attractive and technological solution that is a true alternative to the expensive credit provided by the banks and credit card companies”.
Hagai Badash, CEO of Psagot, said: “In the past few years since financial institutes in Israel have started entering the business credit market, we see a decrease in interest gaps and higher competition. On the other hand, we see the consumer credit market that is dominated by the banks and the interest rate gaps have remained high. The investment houses are the competition generators in the financial industry and can bring a major change to this market too. The combination between Psagot, the largest investment house in Israel, and the disruptive technology of Blender, is another strategic step towards improving the consumers’ financial position.
If you want to have a chance to participate in the hottest fintech scene in the world, later this month the Finance Magnates TLV Conference will feature an ‘Elevator Pitch Session’. Made popular by our London Summit, at the event startups get just four minutes each to pitch their product to the audience and compete for the prestigious ‘Most Promising FinTech Product’ award.
Israeli Investment House Psagot has announced an agreement to purchase 20% of multinational Peer to Peer (P2P) lending platform BLenders’ activity in Israel, pending regulatory approvals. No financial details from the deal have been revealed yet but it is known that Psagot will be adding its representative to the BLender Israel Board of Directors.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
Psagot is the largest investment house in Israel and manages assets valued at $50 billion for a million individuals, corporations and institutions. It is owned by Apax Partners, a UK-based private equity and venture capital firm.
BLender was selected as one of the most promising fintech companies in 2015 by The British Chamber of Commerce and KPMG. One of its unique features is that it allows lenders to sell their loan portfolios in the secondary market, providing Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term. BLender finalized its Series A round last year, which was led by Blumberg Capital, a Silicon Valley venture capital fund, to finance an expansion in Western Europe and Latin America.
Psagot explains that the deal came after a thorough due-diligence of the field. BLender was chosen because of its technology, which also allows an automatic inspection of the borrowers in countries with no consumer credit rating information, and performs high quality matches between the borrower’s requests and the lenders expectations.
Dr Gal Aviv Ceo Blender (Photo: Sivan Farag)
Dr. Gal Aviv, CEO of BLender, commented: “Israel is an important market for BLender. We are happy about this cooperation with Psagot, this is another step in placing BLender at the front-tier of the consumer credit market in Israel. The technology we have developed bridges gaps and solves the lack of credit rating of borrowers in Israel, and Psagot identified the potential lying in the technology and BLender itself. We offer a quick, attractive and technological solution that is a true alternative to the expensive credit provided by the banks and credit card companies”.
Hagai Badash, CEO of Psagot, said: “In the past few years since financial institutes in Israel have started entering the business credit market, we see a decrease in interest gaps and higher competition. On the other hand, we see the consumer credit market that is dominated by the banks and the interest rate gaps have remained high. The investment houses are the competition generators in the financial industry and can bring a major change to this market too. The combination between Psagot, the largest investment house in Israel, and the disruptive technology of Blender, is another strategic step towards improving the consumers’ financial position.
If you want to have a chance to participate in the hottest fintech scene in the world, later this month the Finance Magnates TLV Conference will feature an ‘Elevator Pitch Session’. Made popular by our London Summit, at the event startups get just four minutes each to pitch their product to the audience and compete for the prestigious ‘Most Promising FinTech Product’ award.