Connect with us

Hi, what are you looking for?

Jewish Business News


CreditPlace buys SMB invoices for $20.7 million

 CreditPlace CEO Yaron Saban

Tel Aviv based Financial technology startup CreditPlace, which operates Israel’s first digital factoring arena, is purchasing Small and Mid-sized Businesses’ (SMB) invoices for NIS 80 million ($20.7 million).

CreditPlace is a Peer-to-Peer (P2P) investment platform, enabling investors to purchase pending invoices issued by suppliers to top tier companies and state owned bodies. CreditPlace provides retail investors with the opportunity to earn decent yields on short term investments ranging between 30 and 90 days

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Around 1, 400 transactions have been completed already on the CreditPlace platform to date, saving local businesses some 107, 000 credit days. Amongst the bodies whose payments were purchased were Jewish National Fund, Partner Communications Ltd., Pelephone Communications Ltd., Clalit Health Services, Super-Pharm (Israel) Ltd., Sano-Bruno’s Enterprises Ltd., and Ackerstein Industries Ltd.

Founded in 2013, CreditPlace recently completed a NIS 6 million (about $1.5 million) financing round. NIS 2 million (about $0.5 million) was raised from current controlling stakeholders Serge Aziza and the company’s chairman Dekel Golan. The rest was raised from private investors. The company has raised NIS 10 million (about $2.6 million) to date.

CreditPlace, which recently completed a small fund raising round, helps stable companies to improve their cash flow and reduce their financing costs. A typical candidate will be a company that have been in business for at least three years and have an annual turnover of at least NIS 3 million (around $770, 000).

The trading of receivables takes place on an advanced trading platform at, where invoices for sale are displayed in detail, allowing investors to choose the transaction portfolio that suits them. Under the CreditPlace model, businesses selling their invoices receive an immediate payment  while investors receive an agreed return on their investment..

All money transfers are circulated through a trust account operated by Ziv Haft Trusts and Holdings 2003, a unit of the BDO Ziv Haft accounting firm.

Commenting on the growth in transactions, Yaron Saban, the CEO of CreditPlace said, “Small and mid-sized businesses in Israel are toppling under the weight of deferred payment which basically means they are required to finance their customers, who are some of the biggest companies in Israel.

“CreditPlace rectifies this distortion by linking small and mid-sized businesses with private investors. The links we create enable businesses- to diversify their sources of credit, offers safe and convenient business management, and beat the current plus problem. We are creating a new investment instrument for Israelis, which combines short-term obligation, high yields and the security of a bond, or in other words, the convenience of high liquidity with the advantages of a secure and easy-to-use digital trading arena. We are pleased to see the public is joining the pay today revolution and taking part in the new economy.”



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.