Blender launches peer-to-peer lending in Israel

The Aviv family and Giora Ofer today officially launched Blender Israel – an online lending platform.

One of the growth areas in the global financial sector is peer-to-peer lending – direct loans carried out between people online, which cuts out the bank as middleman. This exists also in Israel, and, recently, a new player, BLender, entered the market. Blender was created through an interesting and surprising connection between the Aviv family, best known for its real-estate activity, and former Israel Discount Bank (TASE: DSCT) CEO Giora Ofer. Blender’s official launch was today, after having been operational for a few weeks. Nearly NIS 7 million has been invested in establishing the venture thus far, the vast majority of it by the Aviv family.Blender is a web platform that connects lenders and borrowers, and offers borrowers lower interest rates on average than the banks, and lenders significantly higher interest than savings plans (albeit with greater risk). The more attractive interest rates are possible because there is no bank acting as middleman. Loans of up to NIS 30,000 may be taken via Blender.“Today, in order to take a NIS 30,000 loan, you need to undergo an absurd process, at the end of which you pay crazy fees and interest rates. There is no reason for this to continue today, when the world is simpler, and everything is available online. We have grown accustomed to ordering food and clothes easily online, and there is no reason that the same should not be the case with everything having to do with money,” said Blender founder and CEO Dr. Gal Aviv today, at the press conference held by the company in Tel Aviv.

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