Responding to Demand, BlueVine Increases Factoring and Business Credit Lines
February 6, 2018Invoice factoring and small business loan company, BlueVine, recently doubled its credit line size for its invoice factoring product up to $5 million. Simultaneously, it has also increased its business line of credit maximum to $200,000, from $150,000.
“The number one [reason for the expansion] has been an increase in demand from our existing customers,” said BlueVine Chief Revenue Officer Eric Sager.
He said they had granted higher lines of credit to some customers who asked for it, and when BlueVine saw success, it decided to make the higher credit available to all customers.
The Redwood City, CA-based company was founded by Eyal Lifshitz in 2013 as a factoring company, but it has since offered small business loans, which Sager told AltFinanceDaily now accounts for about half of the company’s revenue.
Last year, BlueVine introduced a 12-month line of credit based on monthly payments. Previously, they had only offered a 6-month business line of credit, called Flex Credit, based on weekly payments. Sager that said that many BlueVine customers use the company’s factoring services as well as its credit line offering.
“The reason why [this increase in credit] is so important is because it allows customers to use our line of credit facility not just for working capital…but now for capital expenditures as well,” Sager said.
Many alternative lending companies boast of using sophisticated technology to almost instantly issue loans or credit lines. While Sager said that BlueVine does use sophisticated technology, he said they also use reliable industry standard technologies and that they have a dedicated account management team that customers can reach out to, particularly large ones.
One of Sager’s favorite slogans that he applies to BlueVine is: “Always available, never needed.”
BlueVine doubles invoice financing credit lines to up to $5 million
January 30, 2018BlueVine also increases business line of credit to $200,000; opens New Jersey office
REDWOOD CITY, Calif. – January 30, 2018 – BlueVine has doubled the credit line size for its invoice factoring product to up to $5 million, underscoring the online business lender’s push to offer fast and flexible working capital financing to small and medium-sized businesses.
BlueVine also increased the limit for its business line of credit product to $200,000 from $150,000, making its Flex Credit product an even more attractive financing option for larger or fast-growing companies.
“In just four years, we’ve dramatically increased our invoice factoring credit line to $5 million, and our business line of credit to $200,000,” BlueVine CEO and founder Eyal Lifshitz said. “We continue to be fully committed to providing business owners with robust financing options to help them thrive.”
BlueVine helped Mindstar Aviation unlock capital trapped in unpaid invoices. The Virginia-based company, which develops and writes software for flight simulators, used to wrestle with cash flow gaps while waiting for customers to pay their bills, which often took 45 days or longer.
BlueVine allowed Mindstar to get cash advances on those invoices.
“Because we have BlueVine in place to make a purchase, we could proceed immediately,” said Johnny Johnson, the company’s executive vice president. “We don’t have to wait, which could impact a project timeline. BlueVine financing is easy. It’s quick. No hassle. BlueVine is not nickel-and-diming people, charging fees here and fees there. It’s really straightforward and easy to understand.”
A business line of credit from BlueVine enabled entrepreneur Jesse Urrutia, owner of MarketMe, a video production company in San Carlos, California, to take on bigger clients and grow his business.
“In the past, if I didn’t have cash to pay for a production, I would just turn down the project,” Urrutia said. “It’s ridiculous to turn business down because you don’t have the money. BlueVine fixed that for us.”
BlueVine also announced the opening of its new office in Jersey City, New Jersey, from where the company hopes to better serve customers and partners on the East Coast. Aside from its headquarters in Redwood City, BlueVine also has offices in New Orleans and Tel Aviv.
BlueVine revolutionized business lending with a highly automated, completely online invoice factoring platform that allows businesses to get advances on unpaid invoices.
In 2016, BlueVine introduced a 6-month business line of credit called Flex Credit based on weekly payments. The company introduced a 12-month line of credit based on monthly payments in 2017.
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. A fintech pioneer, BlueVine developed a fully-online cloud-based platform for invoice factoring, revolutionizing the 4,000-year old financing system that allows businesses to receive cash advances on outstanding invoices. BlueVine also offers FlexCredit, business line of credit financing based on 6-month and 12-month payment terms. Based in Redwood City, Calif., BlueVine has raised $273 million in equity and debt funding and is funded by Lightspeed Venture Partners, 83NORTH, Correlation Ventures, Citi Ventures, Menlo Ventures, Rakuten Fintech Fund and other private investors.
On The Line With BlueVine After a Big Year
March 13, 2017
Helping businesses get paid on their invoices faster is a big market. So big, in fact, that when I met up with BlueVine CEO Eyal Lifshitz at LendIt last week, his company had just recently secured a $75 million warehouse credit line with Fortress. BlueVine had also just come off of a big year in which they provided more than $200 million to small businesses, earning them a spot in our rankings.
BlueVine’s success comes at a time when some in the online lending space have lost their luster. Lifshitz feels his company, however, is positioned well. “The time of exuberance has disappeared,” Lifshitz says. “Investors are looking to create value.”
Part of what makes them different is that they not only factor invoices, but they also provide lines of credit to prime and near-prime customers. Factoring is still a bigger percentage of their overall business, Lifshitz says, but he asserts that their credit line segment is growing at a faster clip. And he insists that they are working on other products too, not just loans. It sounds like the beginnings of a bank, I tell him, while making references to SoFi and their ability to live on the threshold of banking without actually currently being one.
“People have been saying that PayPal would become a bank forever but they haven’t become one,” he points out.
Still, running a company as big as his does require prudent decisions. “We are very mindful of how we manage capital,” he says. I ask if he thinks his business model protects them from an economic downturn. “It doesn’t protect it,” he asserts. Instead, he explains, his model gives him the ability to make adjustments rapidly. Since BlueVine’s capital is typically repaid in a matter of months, they can react to economic changes quickly.
Big name backers aren’t afraid to show that they believe in this either since they have been funded by Lightspeed Venture Partners, 83NORTH, Correlation Ventures, Menlo Ventures, Rakuten Fintech Fund and other private investors. A recent announcement by BlueVine says that they are on track to fund approximately $500 million to small businesses in 2017.
Fintech Startup BlueVine Raises $49 Million in Series D Funding
December 14, 2016- The company has provided more than $200M in financing to thousands of businesses
- In response to customer demand BlueVine is increasing credit lines to $2 million for invoice factoring and $100,000 for business lines of credit
- Company is expanding strategic relationships with partners like Intuit
REDWOOD CITY, Calif. (December 14, 2016) BlueVine, a leading online provider of everyday financing to small businesses, announced today it has closed $49 million in funding. The Series D funding round was led by existing investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, Rakuten FinTech Fund and Silicon Valley Bank.
Since launching in March 2014, BlueVine’s cloud-based financing solutions have helped thousands of small businesses obtain quick, easy access to the funds they need to purchase inventory, cover expenses and expand operations.
We are very proud of all we’ve accomplished in 2016 and excited to continue on our incredible growth trajectory, said Eyal Lifshitz, CEO and founder of BlueVine. BlueVine is delivering unprecedented ease and convenience to meet SMB owners¹ financing needs and help them achieve their goals.
This financing will support BlueVine’s rapid growth as it expands its team and range of offerings. BlueVine has already funded more than $200 million in working capital for SMBs and is on track to fund more than $500 million in working capital during 2017.
This team continues to push the pace of innovation to deliver best-in-class everyday financing products, said Yoni Cheifetz of Lightspeed Venture Partners. We are delighted to have supported BlueVine’s journey to date and thrilled to enable them to bring their vision to thousands more SMBs across the country.
BlueVine’s business line of credit has proven to be very popular with QuickBooks users, said Rania Succar, business leader of QuickBooks Financing. It fills a critical part of the QuickBooks Financing portfolio and allows us to extend credit to younger businesses. We are excited about expanding our partnership to serve even more QuickBooks SMBs with BlueVine’s business line of credit.
BlueVine also announced it has once again increased its maximum credit lines based on client demand:
- For invoice factoring the maximum credit limit has been increased from $250,000 to $2,000,000
- For the business line of credit the maximum credit limit has been increased from $50,000 to $100,000
BlueVine offers credit lines starting at $5,000 for a business line of credit and $20,000 for invoice factoring.
About BlueVine
BlueVine offers small businesses financing solutions to access the funds they need to purchase inventory, cover expenses or expand operations. BlueVine was the first factoring company to develop a fully online, cloud-based platform for invoice factoring, enabling rapid advances on outstanding invoices due in 7-90 days and bringing a 4,000-year-old industry into the digital age. BlueVine also offers Flex Credit, an on-demand, revolving line of credit through the same online platform. With BlueVine, business owners can focus on growing their business instead of worrying about their bank account. BlueVine is funded by Lightspeed Venture Partners, Citi Ventures, 83North, Correlation Ventures, Menlo Ventures, Rakuten Fintech Fund and other private investors.
About Lightspeed Venture Partners
Lightspeed Venture Partners is an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 300 companies globally. The Firm currently manages over $4 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India and China. www.lsvp.com
Press Contact
Amberly Asay
BlueVine Public Relations
801-461-9776
bluevine@methodcommunications.com
BlueVine a Serious Player After Citigroup Investment (And it Could Land Them Citigroup Referrals)
April 27, 2016
When BlueVine announced raising $40 Million from Menlo Ventures three months ago, they raised eyebrows in the marketplace lending community but they didn’t steal the spotlight. That’s because BlueVine’s core focus, invoice factoring, is arguably the least sexy segment of small business finance. Just hearing the phrase invoice factoring is enough to induce one into a coma. That of course is what made the age-old practice ripe for disruption. But even so, BlueVine isn’t limiting themselves to just that.
The company now offers business lines of credit with interest as low as 6.9%, according to their website. That makes them a competitor of OnDeck, Lending Club, Funding Circle and many others in a crowded field.
A new investment from Citigroup however could change everything for them. While the terms from Citi Ventures (the banks’s investing arm) were not disclosed, Arvind Purushotham, told CNBC that it’s possible that Citigroup forms a referral arrangement with BlueVine to help small business customers of the bank find attractive credit. That’s significant because Purushotham is a managing director at Citi Ventures.
Two weeks ago, OnDeck CEO Noah Breslow, told the crowd at the LendIt conference that partnering is a company’s only chance now to gain a real foothold in the industry. Breslow could speak from experience since OnDeck currently has a unique arrangement with JPMorgan Chase.
While the sources interviewed by CNBC stressed that the BlueVine-Citigroup investment did not constitute a commercial partnership, the stage seems to have been set for that to be possible in the future.
Even though BlueVine just started making loans 3 months ago (they have been factoring since 2013), loans already make up 15% of their overall business. This is one invoice factoring company that rival small business lenders won’t want to sleep on.
FundThrough Acquires Ampla, Strengthening its Digital-First Invoice Funding Solution
April 22, 2025HOUSTON and TORONTO – April 22, 2025 – FundThrough, the leading fintech invoice factoring platform for small and medium-sized businesses (SMBs), today announced its acquisition of Ampla, the leading provider of financial technology solutions for consumer brands offering working capital, business banking, corporate cards, and analytics. Ampla surpassed +$2B of loan originations and handled +$5T of transaction volume through its platform. This strategic acquisition strengthens FundThrough’s digital-first ecosystem, creating an unrivaled platform explicitly designed for small businesses that sell to larger companies and wait to get paid after invoicing.
Building on its successful acquisition of Bluevine’s factoring business in 2021, FundThrough again demonstrates its ability to identify and seamlessly integrate game-changing SMB technologies. Today, FundThrough’s expanding footprint now delivers crucial invoice factoring solutions across diverse B2B sectors, including retail, manufacturing, oil and gas, technology, professional services, and food supply and agriculture, with 85 percent of its funding helping American clients.
“Business owners have increasingly been forced to act like banks for their much larger customers who extend invoice payment terms beyond reasonable lengths. They need a seamless way to bridge the cash flow gap, and FundThrough provides a tech-enabled financial solution,” said Steven Uster, FundThrough’s CEO. “Now, Ampla’s technology significantly enhances FundThrough’s AI-powered model, enabling us to level the playing field further. With Ampla, we can scale faster, enhance our credit underwriting and monitoring processes, and help even more businesses solve their number one pain point, cash flow. I’m excited to work with Anthony, a proven entrepreneur with vast knowledge in this space.”
Ampla’s CEO, Anthony Santomo, will remain a strategic advisor to FundThrough and will be joined by his core team. “I’m excited about Ampla’s acquisition by FundThrough and the potential of the combined platform to support small businesses. This strategic move enhances commerce capabilities and provides operators with greater resources to succeed,” said Santomo.
Concurrently with the acquisition, FundThrough also raised $25M in equity capital led by existing investor Klister Credit Corp., an early, large investor in both Shopify and FundThrough. This strategic investment fuels aggressive expansion into key growth areas, including further acquisitions, investments in technology and AI, enhanced UX, and accelerated product innovation.
“Steven’s leadership has firmly established FundThrough as a bellwether in the fintech and specialty finance industry. FundThrough’s track record over the past years of uncertainty is impressive. FundThrough has stayed tightly focused on robustly serving the needs of small businesses forced to hold receivables from their much larger, better-capitalized customers,” said John Phillips, President of Klister. “The outlook for small business growth continues to be positive, and my increased investment reflects my confidence in the FundThrough team’s continuing focus on serving this important market through the best service and continual product innovation.”
“As small businesses navigate the evolving global tariffs, the best thing they can do is preserve their cash flow. FundThrough helps bridge the gap by providing peace of mind for business owners during these uncertain times,” concluded Uster.
FundThrough continues to earn recognition for its growth and technology, landing spots on the Deloitte Fast 500 and Globe & Mail’s Report on Business Top Growing Companies List.
About FundThrough
FundThrough is the leading fintech invoice factoring platform for small and medium-sized businesses (SMBs). Based in Houston and Toronto, FundThrough’s digital-first ecosystem leverages real-time financial data and predictive analytics, offering flexible, tailored financing solutions for growing businesses. Since its founding, the award-winning organization has funded over $2.7 billion of invoices. For more information, visit fundthrough.com.
FundThrough Media Contact
Nadia Milani
VP, Marketing
nmilani@fundthrough.com
Dragin Technologies and Ocrolus Announce Strategic Partnership: Enabling the Next Generation of Application Process Automation for Small Business Financing
May 20, 2024
New York, NY – 05/20/24 – Dragin.io, a machine learning process automation tech firm, is thrilled to announce a product integration and strategic partnership with Ocrolus, a leader in AI-driven financial document analysis. This collaboration aims to combine Dragin’s cutting-edge process automation technology with the industry-leading bank statement automation and cash flow analytics products offered by Ocrolus. Together, the new solution offers clients in small business financing unmatched speed, accuracy, compliance, and a robust fraud detection system, providing them with confidence and security in their financial operations.
Mark Ross, CEO of Dragin, expressed his enthusiasm for the partnership: “This is incredibly exciting for the future of the small business financing industry. Dragin specializes in automation solutions that help our clients deliver their offers faster than anyone else in the industry. Partnering with Ocrolus enables us to achieve technological advancements in business financing sooner than expected.”
Dragin’s AI and machine learning (ML) algorithms enable sophisticated data processing, providing actionable insights for offer creation and customization in the business funding deal cycle. This technology empowers underwriters to make informed decisions smarter and more quickly.
This partnership will enable powerful solutions for providers of small business financing, offering:
- Speed and Efficiency: Clients can rapidly analyze bank statement data, accelerating decision-making and reducing the time required for underwriting approvals.
- Compliance and Fraud Detection: Ocrolus’ technology performs comprehensive, AI-driven fraud detection, safeguarding clients against potential risks.
- Accuracy and Reliability: The partnership guarantees high levels of accuracy in data extraction and analysis, minimizing errors and enhancing the reliability of financial assessments.
- A.I. & Machine Learning: Dragin has developed advanced AI and ML models that can parse and classify nearly all document types and fill in missing fields such as industry, leading to a more robust auto-decline system. Integrating Ocrolus’ AI-driven document automation and analytics will bolster Dragin’s overall capabilities in lead prequalification.
“We are incredibly optimistic about this partnership with Dragin,” remarked Sam Bobley, CEO of Ocrolus. “Their focus on improving the efficiency of small business funding processes and commitment to client satisfaction makes them an ideal partner for Ocrolus. We look forward to a successful collaboration that will provide customers with the trusted and accurate data, fraud detection, and analytics they need to confidently make important financial decisions.”
About Dragin
Dragin is a leading fintech solutions provider dedicated to delivering innovative and efficient services to its clients. Founded with a mission to simplify and streamline financial processes, Dragin has developed cutting-edge technology, including A.I. and machine learning, to streamline processing automation which creates actionable insights for offer creation and customization. For more information about Dragin and its automation solutions, please visit https://www.dragin.io
About Ocrolus
Ocrolus is a document AI platform that enables faster and more accurate financial decision-making. The company analyzes documents with over 99% accuracy, regardless of format or quality, supporting hundreds of document types including bank statements, pay stubs, and tax forms. Ocrolus provides a trusted solution to detect fraud, analyze cash flows and income, and streamline decisions for 500+ clients across a number of use cases. Customers such as Enova, PayPal, Rapid Finance, Bluevine, National Funding, and Kapitus leverage Ocrolus automation to build delightful user experiences. To learn more, visit Ocrolus.com.
AltFinanceDaily’s Top Five Stories of 2023
December 13, 2023
deBanked’s most read stories of 2023 are in. Here’s what the industry read about most this year!
EIDL & ERC Updates
Readers tuned in to learn about EIDL loans going bad and the roller coaster surrounding the ERC program.
See:
As IRS Announces Pause of ERC Payouts, Businesses May Resume Pursuit of Upfront Alternatives
Whoa, That’s a Lot of Bad EIDL Loans
Reliant Funding
There was a lot of talk about Reliant Funding this year, which first made waves in February and then later in September.
See:
Reliant Funding Shifts Gears
The LCF Group Acquires Key Strategic Assets from Reliant Funding and Sets Course for a Record-Breaking Year
GFE
The company is called Global Funding Experts. After they raised a debt facility of $100 million, everyone wanted to know more!
See: Experts: How GFE Went Big
Bluevine Cutting off ISOs
The news just broke, but seeing a big name change their business strategy like this has got many people talking.
See: Bluevine Partner Email Circulates
Florida Commercial Financing Disclosure Rule
Guess what’s about to go into effect? A unique disclosure rule like nowhere else. Brokers, I hope you’ve read this one!
See: Pending Florida Law Draws From DailyFunder’s Rulebook
Top stories of 2022
Top stories of 2021
Top stories of 2020
Top stories of 2019
Top stories of 2018
Top stories of 2016
