Israeli Fintech Startup Sling Bought By Brazil’s Avante

 July 11, 2016 | Israeli Fintech startup Sling, announced today that the company has been acquired by Brazilian micro-credit giant, Avante.  Financial terms of the deal were not disclosed, but sources in the industry estimate the price was around $10 million. Sling enables micro-entrepreneurs (street vendors, therapists, flea market merchants, etc.) to quickly access financial services directly from their smartphones, with no need for hardware, contracts or upfront costs. Sling also offers merchants digital card payments, easy installments, and micro- fleet management capabilities. Founded in 2014 by CEO Erez Yerushalmi and COO Jacob Cohen, Sling serves thousands of Israeli micro-entrepreneurs in Israel and intends to deploy its services to an additional 10,000 merchants in the Brazilian market by the end of 2017. Brazil-based Avante enables micro-entrepreneurs to rapidly access micro-credit loans in order to grow and evolve their businesses.