BLender scores $5M to expand the boundaries of P2P lending

BLender’s hybrid model creates credit ratings based on financial, social, and demographic background to upend the banks’ foothold on peer-to-peer lending – and empower emerging markets.

P2P lending platform, BLender, secured $5M in funding from Blumberg Capital, one of the leading American VC firms whose most notable influence is in the global FinTech market. The company currently operates within Israel, but with the funding, BLender plans expand into Western European and Latin American markets within the coming months. Blender CEO, Dr. Gal Aviv, told Geektime that targeted countries include Columbia, Brazil, Germany, and France, among others. He also indicated that some new features will be released, although he would not disclose any specifics.

As a P2P firm, BLender’s cloud based technology connects lenders and borrowers, allowing for attractive interest rates for lenders, and quick, easy access to funds for borrowers. This of course is quite an average headline; many P2P firms exist today. Prosper and LendingClub are the two largest, having deployed over $13 billion in loans from their start dates in 2005 and 2006 through October 2014.

When asked how BLender differentiates itself from standard P2P lending platforms, Aviv gave Geektime a two-pronged response. He said the first difference is that BLender plans to operate multinationally, and not just allocate loans locally or domestically. Secondly, he cited BLender’s ability to rate individuals’ credit risk in areas where traditional credit bureaus and rating systems are not in place.

Read full article at  www.geektime.com