Peer-to-Peer Lending Startup Blender Raises $16 Million in Debt Financing and Equity

Israel-based peer-to-peer lending startup Blender P2P Israel Ltd. has raised $16 million in equity and debt financing, the company announced Monday.

For daily updates, subscribe to our newsletter by clicking here.

The lion’s share of the sum is a credit facility from Paris-based hedge fund Eiffel Investment Group S.A.S, Blender co-founder and CEO Gal Aviv said in a phone interview with Calcalist on Monday. San Francisco-headquartered early-stage venture capital firm Blumberg Capital participated in the round along with additional private investors.

Blender plans to use the funds to further develop and expand its presence in the European market.

Founded in 2014 and based in Ramat Gan, a town in the Tel Aviv metropolitan area, Blender’s online service allows users to apply for a loan of up to EUR 10,000 (approximately $12,350) or become lenders themselves.

Blender is currently active in Israel, Italy, and the Baltic States and is planning to expand to Asia and Latin America, as it has already stated in the past. The company currently employs around 50 people. It raised $23.5 million in equity and debt financing to date. Blender also provides financial companies and banks with end-to-end loan technologies, collaborates with sellers to offer their clients the necessary funding to purchase products and offers customers the option to open savings accounts through the system, Mr. Aviv said in the interview.