Consumer lending is at the top as most highly regulated and business lending is near the bottom. There’s a compliance totem pole in financing. Trusts + Estate Planning Advisory Services.
Artificial Intelligence + Machine Learning.Antitrust Services for Life Sciences Companies.Since inception in 2014, the Redwood City, California-based fintech has helped SMEs access more than $14 billion in financing. The transaction will enable BlueVine to focus on other elements of its business including its BlueVine Business Checking, Payments, and Line of Credit offerings. Our factoring clients will be in great hands with FundThrough.”Īs part of the acquisition, BlueVine’s invoice funding division employees will join the FundThrough team. We determined that FundThrough is perfectly positioned to serve our factoring clients with the care and individual attention they need and deserve. “As we evolve our products and services, we continuously examine how we can better serve our customers at scale. “Since launching BlueVine, we’ve been focused on the financial needs of small businesses and are very proud of what we’ve been able to accomplish,” BlueVine co-founder and CEO Eyal Lifshitz said. The company has grown significantly since then, adding a range of new financing solutions for small businesses and giving the Redwood City, California-based fintech the ability to choose which area of small business financing it will focus on going forward. Invoice factoring was BlueVine’s founding business – and the centerpiece of the company’s 2014 Finovate presentation. The company’s AI-powered funding platform, along with its partnerships with companies like Intuit and Enverus, has enabled it to cut the standard amount of time it takes for SMEs to get their invoices paid by as much as 97%. With growth of more than 10x since its founding in 2014 and 3x growth over the past year, FundThrough has scaled to process more than $120 million in funding each month. market, and through this acquisition we can fulfill our mission on a much larger scale.” “BlueVine was one of our biggest competitors in the U.S. “We are committed to helping small businesses grow and thrive – especially those who sell to large customers where long payment terms and a lack of financing options stand in the way of growing a business,” FundThrough co-founder and CEO Steven Uster said. clientele by 2x, boosting the number of customers in the States who use its technology to turn unpaid invoices into access to working capital. Specifically, FundThrough believes the acquisition of its American rival will enable it to increase its U.S. BlueVine, an SME financing company that made its Finovate debut in 2014, announced this week that it is selling its invoice factoring business to Toronto, Canada-based FundThrough.įundThrough noted that the deal is designed to accelerate both its commitment to embedded finance as well as fuel expansion plans for the U.S.
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