SparkIL

Company Overview

Snapshot

Founded in January 2018 by Doug Bitonti, SparkIL operates with 1–10 employees. The company is currently in a Pre-Funding stage, focusing on connecting microfunders with Israeli small businesses.

Business overview

SparkIL is a Fintech & Insurtech company that operates a peer-to-peer lending platform. Its core technology enables individuals globally to provide zero-interest loans, starting from $25, to small businesses in Israel. The platform serves the financial and real estate consumer market, specifically targeting private investors, with the goal of fostering economic growth and social empowerment while building community connections.

Strategic signal

In June 2022, SparkIL launched a new platform designed to directly connect microfunders with Israeli small businesses. This development signals a strategic move to enhance direct digital engagement and foster economic growth and social empowerment in Israel, demonstrating the company's commitment to its mission and its potential to scale its impact within the crowdfunding and crowd-lending sectors.

Company Intelligence Q&A

What is SparkIL's primary mission?

SparkIL aims to spark economic growth and social empowerment in Israel by connecting lenders from around the world with small businesses through zero-interest loans, fostering community bridge-building and emotional connectivity.

When was SparkIL founded?

SparkIL was founded in January 2018.

What type of lending does SparkIL facilitate?

SparkIL facilitates zero-interest peer-to-peer loans from individual lenders to small businesses in Israel, with options for re-investment or withdrawal upon repayment.

What was a key development for SparkIL in June 2022?

In June 2022, SparkIL launched a new platform to directly connect microfunders with Israeli small businesses, enhancing its peer-to-peer lending capabilities.

Who was appointed CEO of SparkIL in March 2022?

Na'ama Ore was appointed CEO of SparkIL in March 2022.