BlueVine, a Redwood City, CA-based provider of working capital financing to small and medium-sized businesses, secured up to $130m in debt capital financing.
Backers included Silicon Valley Bank, SunTrust Bank, Bank Leumi and TriplePoint Venture Growth BDC Corp.
The company, which has raised $273 million in funding, including $68m in equity financing and up to $205m in debt financing, will use the new funds to scale its online invoice factoring product and the overall growth.
Founded in 2013 by CEO Eyal Lifshitz, BlueVine provides flexible working capital financing to small and medium-sized businesses, giving them access to funds needed to purchase inventory, cover expenses, or expand operations.
The company has developed a fully-online cloud-based platform for invoice factoring, which allows businesses to receive cash advances on outstanding invoices. BlueVine also offers Flex Credit, business line of credit financing based on 6-month and 12-month payment terms.
The company is funded by Lightspeed Venture Partners, 83NORTH, Correlation Ventures, Citi Ventures, Menlo Ventures, Rakuten Fintech Fund and other private investors.
FinSMEs
17/10/2017