Israel based investment tech company Creditplace has raised NIS6m ($1.59m) in venture funding led by controlling stakeholders Serge Aziza and chairman Dekel Golan. Creditplace is an investments platform enabling investors to buy invoices of vendors awaiting payment ('due in' invoices or receivables) of their clients.
Since the company was founded three years ago, it has raised NIS 10 million. Creditplace intends to use the money raised to invest in PR and advertising and for preparations to expand their platform to other countries. Creditplace CEO Yaron Saban said after the financing round was completed, "The company intends to use the raised capital to increase its penetration into the Israeli market, while making the 'net 0 [immediate payment] revolution' available for new audiences." Their clients include large companies such as Jewish National Fund (JNF), Israel Electric Corporation (IEC) (TASE: ELEC.B22), Israel Postal Service and Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR); therefore, there is a low non-payment risk.