BlueVine scoops up $60m equity funding

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The online working capital provider, BlueVine raised $60 million in a Seris E funding round led by Menlo Ventures and Silicon Valley Bank.

Bluevine first appeared in 2013 as a digital financing platform, offering cloud-based working capital financing platform for SMEs and entrepreneurs.

The Israeli fintech is planning on hitting $1million this year and will be using the funding to work on its invoice factoring and business line credit products.

Eyal Lifshitz, CEO, BlueVine, added: “We’re building a cutting edge, technology-enabled platform that is helping thousands of small businesses get quick access to funds to address their everyday funding needs. This new investment gives us a stronger market position, as we pursue bigger plans for reaching even more small business owners and expanding our offering.”

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