Established in 2013 by three physicists, Israeli peer to peer lending start-up BLender gains strength in the local market. With $7 million invested, a recent investment by leading local investment house and over 270 million NIS in requested loans, CEO and founder Dr. Gal Aviv speaks with Finance Magnates about the growing trends in non-banking lending system landscape.
The peer to peer lending industry is seeing steady growth. What does BLender have to offer to clients that your competitors don’t have?
The P2P lending industry is definitely growing, and we are proud to be a disruptive leader. In Israel, we are the largest and fastest growing platform. Globally we are able to address countries with big potential and lack of competition due to our unique technology.
When we started, we were asking ourselves how come some countries have many online lenders, while others, like Israel, don’t. The answer was – lack of credit information and a high fraud rate. With the business goal of targeting these untouched territories, we started developing our technology.