Blender said to close $16m debt and equity round

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fintech insurtech wealthtech regtech ai cybertech esg news

Israel-based P2P lender Blender has reportedly closed a $16m round comprised of debt and equity.

The equity round received contributions from new and existing investors, including Bloomberg Capital Fund; the debt facility was supplied by European Eiffel Group, according to a report by Geektime. This investment brings the company’s total funding efforts to around $23.5m, it states.

Blender connects consumer lenders and borrowers, to improve the returns for lenders and lower interest rates for the borrower. Users are able to apply for a loan between NSI 3,000 ($859) and NIS 70,000 ($20,000), over 24 or 36 re-payment periods.

A borrower submits their application and then investors can choose to contribute capital to the campaign.

Capital from the round will be used to expand its platform to the European market, the article states.

Earlier in the month, Israel-based crowdfunding platform OurCrowd launched its 13th investment vehicle, focused on supporting sports tech companies. The company also launched a $100m fund earlier in the year, which will support around 20 companies developing AI, deep-learning, IoT, robotics and digital manufacturing.

Last year, Viola FinTech held the $100m first close for its debut vehicle, which will support global startups in the sector.

In an interview with FinTech Global, Viola partner Tomer Michaeli said that Israel is an ‘extremely vibrant’ market and one of the few places where there is a well-developed financing ecosystem from seed stage to late stage investors.

Copyright © 2018 FinTech Global

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