After a 50% stock jump: Israeli fintech giant Blender Technologies signs new deal

After the company's stock jumped by about 50% over the past year, Blender Technologies published its results for the first half of 2026. Gross revenues grew by about 41% and totaled about 25.8 million NIS, compared to 18.3 million NIS in the corresponding half of last year.

The company transitioned to a net profit of about 1.0 million NIS (and about 1.9 million NIS excluding a historical VAT assessment), compared to a loss of 2.9 million NIS in the corresponding period. The growth was mainly due to interest income from loans to customers and income from the sale of loan portfolios. Net revenues in the first half grew by about 35% and totaled about 17.2 million NIS, compared to 12.7 million NIS in the corresponding half of last year.

The company's activity focuses on two engines: blenderPay, a credit solution at points of sale and on e-commerce sites; and SaaS-model technology services for managing credit, deposits, mortgages, and payments for financial institutions. In the first half, Blender continued to expand its credit activity in Israel and signed three agreements to provide technology services for the management and operation of private and business credit.

Expansion of blenderPay activity in Israel: the company provided new credit in the amount of about 97 million NIS, an increase of about 36% compared to 71 million NIS in the corresponding half of last year. The credit portfolio managed in the credit provision sector in Israel totaled about 219 million NIS, including the sale of a managed loan portfolio to a third party in the amount of about 48 million NIS, compared to 137 million NIS in the corresponding half. Interest income from credit provision in Israel grew by about 50% and totaled about 13.2 million NIS, compared to 8.8 million NIS in the corresponding half.

As of the report publication date, the credit limits of the credit provision sector in Israel amount to about 202 million NIS, of which the company utilized about 155 million NIS. blenderPay allows customers to finance purchases with a loan of up to 60 payments, outside the credit card limit, and for businesses to receive the full payment within a few days. blenderPay is held by Blender Technologies (80%) and Bank Hapoalim (20%), and is active in more than 2,000 points of sale.

As of June 30, 2026, the managed credit portfolio totaled about 509 million NIS, compared to 546 million NIS on June 30, 2025, a decrease of about 7%. The decrease reflects the company's decision from January 2026 to stop providing new loans in the credit brokerage system, against the background of changes in investment preferences and the interest rate environment, as well as the sale of loans in the amount of about 38 million NIS to a financial entity, which was completed at the end of June 2026. The credit brokerage activity recorded a profit of about 2.8 million NIS in the half, an increase of about 133% compared to the corresponding period.

In the first half, blenderPay completed the sale of a loan portfolio in the amount of about 50 million NIS. In addition, the company signed a framework agreement with Ash Bank for the sale of loan portfolios in the amount of up to 1.5 billion NIS.

At the same time, Blender is expanding its technology services activity. The company established 32Finance, a jointly controlled company that markets and distributes solutions for managing credit, deposits, mortgages, payments, and other financial services to financial entities. As of the report publication date, the activity through 32Finance is already generating revenue. The company expects that the cumulative revenues from the signed contracts will exceed 10 million NIS over the next two years.

Blender Technologies (TASE: BLND) is an Israeli fintech company that develops and operates technological solutions for financial entities, alongside activity in the credit field.

Dr. Gal Aviv, CEO and founder of Blender Technologies, stated:

"The half-year results reflect Blender's focus on expanding credit activity in Israel and building technology activity for financial entities. We increased revenues, transitioned to net profit, and provided new credit in the amount of about 97 million NIS. The sale of the loan portfolio and the framework agreement with Ash Bank strengthen funding sources and support continued expansion of activity. At the same time, we signed three technology agreements that create an additional revenue base and expand the company's activity with financial entities."