California based small business lender BlueVine has raised a $130m debt financing led by SIlicon Valley Bank and SunTrust Bank.
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BlueVine takes in $130 mln
Including the latest investments, BlueVine, which was founded in 2013, has raised $273 million in funding, including $68 million in equity financing and up to $205 million in debt financing. BlueVine secured major funding as the company rolls out a 12-month business line of credit based on monthly payments, a new offering that would make it easier for business owners to meet their everyday funding needs. BlueVine introduced the new product in response to client requests for a longer-term business line of credit with monthly payment plans. The new financing underscores the fintech pioneer’s commitment to innovation based on customer needs.
