This morning (16.2.21), the management of Blender Financial Technologies opened trading on the occasion of the company’s listing on the stock exchange.
Blender is the first fintech company to be listed on the Tel Aviv Stock Exchange when, from the beginning of 2021, 14 new companies joined the family of companies traded on the Tel Aviv Stock Exchange.
Blender joins the software and Internet industry on the Tel Aviv Stock Exchange, which currently includes 20 companies worth about NIS 84 billion.
Blender is engaged in the field of fintech, which includes the development and operation of credit and savings management systems, in Israel and abroad. The company develops and implements a technology system based on algorithms developed by the company, which based on tools and methodologies Quickly and efficiently and with customized interest to the customer.
Blender offers loans to its customers without the need for a physical meeting, and its technology is built in a way that allows the system to be operated in a very short time in a wide deployment to new geographies. The company operates both in the field of digital banking, which provides consumer credit to households in Europe, and in brokering credit in a peer-to-peer model, the so-called P2P, which focuses on Israel.
The company is in the advanced stages of obtaining a dedicated banking license in Europe, and in exchange for the issue it will be used for its further development, including meeting the capital adequacy ratios required to obtain the license and expand operations in Israel and Europe.
The company completed an offering that included shares and 2 series of warrants, for approximately NIS 80.5 million, according to a company market value of NIS 292.5 million after cash.
The company’s share is expected to enter at the beginning of April 2021, as part of the fast track for new companies to the stock exchange indices: TA-Growth, TA-Tech-Elite, TA-Global-Bluetooth and TA-Technology.
Dr. Gal Aviv, CEO of Blender Financial Technologies He said: “We are excited and proud to be the first fintech company to join the stock exchange activity in Israel. This issue means both a right and a duty, a right to be first and a duty to prove that we promote innovation and competition. Blender combines business success and social success as the leading p2p company in Israel. In addition, Blender is making progress towards the next leap in becoming a pan-European online bank for deposits and credit (high yield savings and consumer credit), thus expanding our basket of services in Europe.
We believe that the stock exchange platform will help us grow our operations in Israel and Europe and enable Blender to become a significant global player. “
Lior Navon, Director of the Sales and Market Development Unit at the stock exchange He said: “We hope to see more fintech companies joining the Tel Aviv Stock Exchange, which will increase competition for the private consumer, and enable him to receive financial services efficiently and at low costs. I wish the company success and perfection in the field of credit and savings management, for the benefit of the Israeli public and the Israeli economy. The whole thing. “