Citi Ventures. MUFG Ventures and Nationwide have joined in a $102.5 million equity financing round for small business banking vendor BlueVine.
The Series F round of funding was led by ION Crossover Partners. Other participants included previous investors Lightspeed Venture Partners, Menlo Ventures, 83North, SVB Capital, Microsoft’s venture fund, M12, and new investors O.G. Tech - Eyal Ofer’s VC, Vintage Investment Partners, ION Group, and Maor Investments.
The new funding comes hot on the heels of BlueVine's launch of business checking accounts and debit cards alongside its existing suite of working capital products. The firm's Line of Credit, Invoice Factoring and Term Loan products have provided over 20,000 small business owners with access to more than $2.5 billion in financing since the company’s inception in 2013.
“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,” says Eyal Lifshitz, CEO and co-founder of BlueVine. “This funding further validates our mission and will help democratise true business-grade banking for small businesses who have been underserved for so long.”