BlueVine Marks Third Year of Working Capital Financing Platform

Cloud-based small business financing provider on track to top $700 million in working capital funding this year

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Mar 29, 2017, 08:00 ET

REDWOOD CITY, Calif., March 29, 2017 /PRNewswire/ -- Fintech pioneer BlueVine this month marked its third year as a leading online provider of flexible and convenient working capital financing to small and medium-sized businesses.

BlueVine is proud to celebrate the third anniversary of its cloud-based platform, which has helped thousands of entrepreneurs get quick and easy access to everyday financing through business lines of credit and invoice factoring.

BlueVine provides flexible working capital financing to small and medium-sized businesses, giving them quick access to funds needed to purchase inventory, cover expenses or expand operations. BlueVine offers a cloud-based invoice factoring service that allows business owners to tap into capital in their outstanding invoices. The Company also offers Flex Credit, an on-demand revolving business credit line of up to $100,000.

BlueVine launched its financing platform in March 2014 with an innovative 21st century version of invoice factoring. Invoice factoring, which dates back to the Babylonian Age, allows businesses to access capital trapped in unpaid invoices. In April 2016, BlueVine introduced a line of credit solution called Flex Credit.

"The inspiration for BlueVine came from my dad, who also struggled with cash flow as a small business owner," said Eyal Lifshitz, founder and CEO of BlueVine. "It's very rewarding to provide a service that has helped thousands of small business owners solve this common problem. I'm so proud of our team's efforts over the past three years to build the fastest, most convenient way for entrepreneurs to get funding to run and grow their businesses."

BlueVine has built a reputation as a trusted small business financing partner with fast funding and transparent terms over the past three years.

BlueVine is currently the only company offering a 100 percent online invoice factoring service, which allows for rapid advances on outstanding invoices due in 7-90 days. BlueVine Flex Credit financing has expanded the company's ability to offer convenient access to working capital.

BlueVine financing has expanded dramatically in three years. The company had funded around $200 million in working capital in 2016. The company expects to double that in 2017 alone, and is on track to fund approximately $700 million since inception.

BlueVine also has broadened its customer reach to include businesses in a wide range of industries, including retail, IT services, business services, media and entertainment, engineering, construction and others.

About BlueVine

BlueVine provides flexible working capital financing to small and medium-sized businesses, giving them quick access to funds needed to purchase inventory, cover expenses or expand operations. BlueVine offers a cloud-based invoice factoring service that allows business owners to tap into capital in their outstanding invoices. The Company also offers Flex Credit, an on-demand revolving business credit line of up to $100,000.

BlueVine is funded by Lightspeed Venture Partners, 83NORTH, Correlation Ventures, Citi Ventures, Menlo Ventures, Rakuten Fintech Fund and other private investors.

Get funded at bluevine.com.

Press Contact

Amberly Asay
BlueVine Public Relations
801-461-9776
[email protected]

SOURCE BlueVine