WeSure Finance Expands Non-Bank Credit Portfolio to 100 Million Shekels
WeSure Global Tech's subsidiary, WeSure Finance, has accumulated a 100 million shekel credit and guarantee portfolio, expanding into non-bank business financing amid high market concentration.
WeSure Global Tech, the public insurance and financial group controlling Ayalon Insurance and WeSure Insurance, is expanding its business financing and non-bank credit operations through its subsidiary WeSure Finance. Operating for several months after receiving an expanded credit license and a dedicated guarantee issuance license from the Capital Market, Insurance and Savings Authority, the company has rapidly accumulated a credit and guarantee portfolio of approximately 100 million shekels.
WeSure Finance targets a diverse range of business clients, including growing medium-sized and manufacturing companies, public corporations, entrepreneurs, and real estate contractors. Its operations focus on industry, commerce, and services, offering tailored financing and guarantee solutions designed to match clients' specific needs and the purpose of each transaction.
As part of its underwriting process, the company assesses the borrower's personal profile and transaction characteristics alongside historical financial reports. This approach aims to customize the credit structure to the client's specific business activity and requirements.
One of the company's core areas is issuing non-bank guarantees for businesses. It offers tender, performance, quality, advance payment, rental, and supplier guarantees, as well as guarantees for securing payments, betterment levies, and obtaining licenses and permits. These solutions allow businesses to diversify their guarantee sources, reduce the need to tie up liquid capital, and avoid blocking bank credit lines.
Another key activity is real estate-backed financing. The company provides loans against existing properties, offers financing for land acquisitions, and supplies financing for income-generating real estate through first or second liens. Additionally, it offers developers dedicated inventory financing for apartments, enabling them to release equity and utilize it to advance further projects.
Alongside these, WeSure Finance offers working capital credit solutions for companies requiring liquidity for ongoing operations. The company also collaborates with accountants, financial advisors, insurance agents, and business lenders to reach businesses in need of financing solutions.
The company's expansion occurs against the backdrop of high concentration in Israel's business credit market. Data shows that the small and medium-sized business credit market is estimated at approximately 404 billion shekels, with about 92.3% held by the banking system, while non-bank entities account for only about 6%.
Additional data published to promote the business credit database indicates gaps in meeting business financing needs. Approximately 48% of surveyed businesses require additional credit. Among all businesses tested, 22% were rejected and received no response to their requests, while 26% received only partial fulfillment. These figures illustrate the strong growth potential for non-bank entities offering business financing solutions.
WeSure Finance is headed by CEO Sivan Rahamim, who brings 18 years of experience in credit and guarantees. Prior to joining the company, she served for four years as VP of Guarantees at Phoenix Gamma, where she established and managed the non-bank guarantee division. Earlier, she managed the State-Guaranteed Loan Fund for small and medium-sized businesses at the Ministry of Finance, distributing cumulative loans totaling about 10 billion shekels.
The company's Chief Credit Officer is Yuval Finkel, who possesses 12 years of experience in credit and business analysis. He previously served as a senior manager in the State-Guaranteed Loan Fund and subsequently established and managed the "Mifrats" credit fund for about five years.
Nitzan Zeier Harim, CEO of WeSure Global Tech and Chairman of WeSure Finance, noted that establishing the new financing arm aligns with the group's strategy to become a large-scale fintech and financial body. He stated that the model combines Ayalon Insurance's experience and resilience with WeSure's innovation, flexibility, digital solutions, and artificial intelligence tools.
WeSure Global Tech is a public company traded on the Tel Aviv Stock Exchange since 2021. Established in 2016 as a digital insurance company by Nitzan Zeier Harim and Emil Vainshel, it currently controls Ayalon Insurance and WeSure Insurance. Ayalon operates in general insurance, health, life insurance, and long-term savings.
Parallel to its insurance activities, the group develops, licenses, and markets digital platform technologies for finance and insurance in Israel and globally. Internationally, it operates overseas branches, including Hourly, which provides payroll services. The expansion through WeSure Finance adds another pillar to the group, focusing on business credit and non-bank guarantees.
