PropTech startup Bllink raises $1.6 million led by Wix executives

Bllink, an Israeli PropTech company that has developed a technological solution for making payments and financially managing residential complexes, has completed a $1.6 million funding round. Prominent investors in the startup include Israeli angel investor Ran Tushia, as well as senior Wix executives Avishai Abrahami, Nir Zohar, Giora Kaplan, Lior Shemesh and Eyal Veitzman. The remaining amount was raised from venture capital funds Flashpoint VC and Altair Capital.

Bllink’s solution was developed for and adapted to a wide range of building complexes, from low-rises to luxury towers. Its platform allows buildings and their committees to manage and execute all building payments digitally and automatically.

According to Omri Peled, the company’s founder, the idea to start Bllink came to him from a traumatic personal experience he suffered as a tenant in a standard residential building. “As a young student working around the clock, I neglected to pay the monthly fee to the building committee and unintendedly dragged a six-month debt. Finally, the building committee hung a huge sign with my name at the entrance to the building, shaming me in front of my neighbors.”

He continued: “In the first years after the establishment of Bllink, we operated without any external funding sources and like most startups, we worked around the clock out of faith in what we were trying to build. We're all very happy and grateful for the expression of confidence the investors are showing in the solution we offer.”

The company currently manages tens of millions of shekels in more than 30 cities across Israel and plans to expand its services to save an industry that, although is currently estimated to be billions of shekels in Israel alone, is characterized by outdated payment services such as cash and checks, resulting in a lack of transparency and efficiency.

"We led the current round of funding out of a belief in the enormous success potential that startups in the field of PropTech hold, and Bllink stood out above all in the quality of product it offers today, and in the possible solutions it may offer in the future, not only in its technology, but also in its overall user experience,” said Ran Tushia. “The company has built a customized solution that will increase tenant satisfaction and reduce stress among property managers and holders. I believe Bllink will become the IT hub for many residential building solutions,” he concluded.