- BlueVine, a leading provider of small business banking, announced it has raised $102.5 million in Series F funding led by ION Crossover Partners
BlueVine — a leading provider of small business banking — announced it has raised $102.5 million in Series F equity financing. This round of funding was led by ION Crossover Partners with participation from all major existing investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, SVB Capital, Nationwide, Citi Ventures, Microsoft’s venture fund M12, and several private investors. And this round of funding also included new investors MUFG Innovation Partners Co., Ltd, O.G. Tech – Eyal Ofer’s VC, Vintage Investment Partners, ION Group, Maor Investments, and additional private investors.
With this round of funding, BlueVine will further build and scale its vision for BlueVine Business Banking, which is an end-to-end banking platform featuring a business checking account seamlessly integrated with BlueVine’s technology-enabled suite of online financing products.
The BlueVine Business Checking Account — which was announced last month — simplifies and enhances the banking experience for today’s small businesses with an easy-to-use dashboard and the BlueVine Business Debit Mastercard to manage everyday finances while features like 1% interest on balances and zero monthly fees will help small businesses save and grow their money.
“The recent launch of BlueVine Checking demonstrates our commitment to revolutionize banking for small business owners with a full suite of services designed specifically to meet their unique needs,” said Eyal Lifshitz, CEO and co-founder of BlueVine. “This funding further validates our mission and will help democratize true business-grade banking for small businesses who have been underserved for so long.”
This funding round will help develop BlueVine Business Banking features like integrations with BlueVine’s existing working capital solutions: Line of Credit, Invoice Factoring and Term Loan – which have already provided over 20,000 small business owners with access to more than $2.5 billion in financing since the company’s inception in 2013. And the funding round will also help continue to grow the BlueVine team, including hires across engineering, product and revenue organizations.
“BlueVine has demonstrated a track record of success with their multiple financing products and set themselves apart with their vision of a complete platform of innovative banking products for small businesses,” added Jonathan Kolodny, Partner at ION Crossover Partners. “We’ve been following the company closely since its early days, and have witnessed the demand, and frankly the economic need, for BlueVine’s banking services. We believe the company is exceptionally well-positioned, thanks to its world-class management team, to change the way small businesses manage their financial needs today and in the future.”
