Loanwise

growth-positive

Eran Wolf, former CEO of Direct Finance, is raising capital for a new credit company named LoanWise, focusing on the mortgage market. Wolf aims to raise 80 million shekels, with an initial target of 30 million shekels, and has reportedly secured an investment agreement with a major institutional investor in Israel. LoanWise plans to operate in Israel and abroad, targeting the Arab and Haredi populations, as well as Israelis looking to buy property overseas. The company aims to achieve a mortgage portfolio of 480 million shekels in its first year and become profitable by 2026. Wolfs activities may lead to legal conflicts with his former employer, Direct Finance, due to a non-compete agreement.