BLender, an Israeli-based lending platform active in Italy, Israel and Lithuania, is planning to expand its operations to two additional Baltic countries and Southeast Asia this year. BLender funds loans through peer-to-peer, balance sheet and partner institutions, whichever is appropriate for the particular circumstances.
BLender secured an e-money license from the Central Bank of the Republic of Lithuania on February 14, 2017. The license allows BLender:
- to issue and distribute e-money
- maintain payment account operations (i.e. cash deposits/withdrawals and credit card payments)
- complete money remittances
- perform digital transfers
Since Lithuania is a member of the European Union, the license applies to the other 27 EU member states. According to Gal Aviv, BLender CEO, the goal is to expand credit access in places where there isn’t enough and to provide cutting edge digital tools to lending institutions.