California based small business lender BlueVine has raised a $130m debt financing led by SIlicon Valley Bank and SunTrust Bank.
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.
https://www.pehub.com/2017/10/bluevine-takes-in-130-mln/?via=indexdotco