Fintech Startup Credit24 Looking to TASE IPO
The company currently operates in the Baltic region and Australia.
Credit24 is an Israeli fintech startup based which offers people small loans. It currently operates in five countries including Estonia, Finland, Latvia. Lithuania and Australia. According to a report in Calcalist, the company is planning for an initial public offering on the Teal Aviv Stock Exchange TASE in which it expects to raise NIS 40-50 million ($12-$15 million). It plans to issue shares at a valuation of NIS 160 million ($49 million).
Small personal loans are somewhat of a vital necessity these days what with the worldwide Coronavirus shutdowns causing recessions everywhere. People are in need of cash to tide them over until the world can get back to normal.
The company offers unsecured personal loans and line of credit to casuals, part-time, full-time and even the self-employed. “Use the cash to travel, fund for the next big project or even pay for an emergency bill. Our short and medium term loans can allow you to enjoy now and pay later,” says Credit24.
It was founded by Eran Horowitz who served in the Israel Defense Forces’ vaunted 8200 intelligence unit. Other graduates of the unit at the company include VP of Product Asaf Yoffe, and its Technology VP Ziv Rozbach.
Credit24 is owned by IPF Digital (former MCB Finance), a leading online provider of short and medium-term loans. IPF Digital provides loans to customers in Australia, Europe and Mexico and has approved over 200,000 loans worldwide. IPF Digital owns and operates Credit24 Estonia, Credit24 Finland, Credit24 Latvia, Credit24 Lithuania, Creditea Mexico, Hapi Loans Poland, Creditea Spain.
It boasts an easy and fast application. Personal Loans and Line of Credit is 100% online with no hidden fees. Flexible and affordable. Longer repayment terms to make it more affordable for its customers. Responsible lending. Detailed application process “ensures we’ll lend to those who can afford it, with the amount that they can pay back. Personal touch. We personally assess each application individually to give our customers the personal touch.”