Total amount raised
$62.5 Millions
Latest funding date
January, 2016
Location
BlueVine has successfully raised significant funding through multiple rounds, attracting a diverse group of investors including Lightspeed Venture Partners and Citi Ventures. The company offers a range of business banking solutions designed to meet the needs of small and medium-sized enterprises.
Keep reading to explore the intricacies of BlueVine's fundraising journey and the investors backing this innovative platform.
What Is BlueVine?
BlueVine, founded in July 2013, is a financial technology company based in Redwood City, California. The company was established by Eyal Lifshitz, Moti Shatner, and Nir Klar.
BlueVine offers a range of innovative banking products tailored for small businesses, including business checking accounts, business lines of credit, and business credit cards. Their services are designed to provide small business owners with the financial tools they need to succeed.
With a workforce of 501-1000 employees, BlueVine continues to grow and support small businesses across the United States.
How Much Funding Has BlueVine Raised?
- Debt Financing
- Amount Raised: $75M
- Date: Feb 28, 2017
- Lead Investors: Fortress Investment Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their lending capabilities and support more small businesses.
- Debt Financing
- Amount Raised: $130M
- Date: Oct 17, 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase their lending capacity and enhance their financial products.
- Series D
- Amount Raised: $49M
- Date: Dec 1, 2016
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and develop new financial products.
- Series C
- Amount Raised: $40M
- Date: Jan 20, 2016
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product offerings and grow their customer base.
- Debt Financing
- Amount Raised: $200M
- Date: May 1, 2018
- Lead Investors: Credit Suisse
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the launch of new financial products and services.
- Series E
- Amount Raised: $60M
- Date: Jun 5, 2018
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their technology platform and expand their market reach.
- Series E
- Amount Raised: $12M
- Date: Jul 31, 2018
- Lead Investors: Nationwide Mutual Insurance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their financial products and services.
- Series F
- Amount Raised: $102.5M
- Date: Nov 19, 2019
- Lead Investors: ION Crossover Partners, O.G. Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the launch of their business banking platform and expand their product offerings.
- Venture Round
- Amount Raised: $1.7M
- Date: Jan 1, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and product development.
- Debt Financing
- Amount Raised: $75M
- Date: Sep 9, 2020
- Lead Investors: Atalaya Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their lending capabilities and support more small businesses.
BlueVine has raised a total of $745.7M in funding. The current valuation is not publicly disclosed.
Key Investors
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments in the enterprise and consumer sectors. They have a global presence with offices in Silicon Valley, Israel, India, and China.
- Investment Focus Areas: Enterprise, consumer sectors, early-stage investments.
- Notable Investments: Snapchat, Nest, GrubHub.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies in the consumer and enterprise sectors. They have been investing for over 40 years and have a strong track record of successful exits.
- Investment Focus Areas: Technology, consumer sectors, healthcare.
- Notable Investments: Uber, Roku, Warby Parker.
- 83North
- Details: 83North is a global venture capital firm with offices in Israel and London. They invest in all stages of consumer and enterprise companies, focusing on building long-term partnerships with entrepreneurs.
- Investment Focus Areas: Consumer, enterprise companies, technology.
- Notable Investments: Waze, iZettle, Just Eat.
- Citi Ventures
- Details: Citi Ventures is the venture capital arm of Citigroup, focusing on investing in and partnering with companies that are driving innovation in financial services. They aim to accelerate the adoption of new technologies within Citi and the broader financial ecosystem.
- Investment Focus Areas: Financial technology, enterprise technology, consumer technology.
- Notable Investments: Betterment, Plaid, Square.
- Atalaya Capital
- Details: Atalaya Capital is a private investment firm focused on making opportunistic credit and special situation investments. They manage a diverse portfolio across various asset classes.
- Investment Focus Areas: Opportunistic credit, special situations.
- Notable Investments: Not publicly disclosed.
What's Next for BlueVine?
BlueVine is poised to capitalize on the growing demand for comprehensive financial services tailored to small businesses. With plans to expand its end-to-end banking platform, the company aims to integrate credit, payments, and cash management services, providing a seamless experience for small-business owners. This opportunity is vast, as small businesses account for over 99% of all businesses in developed countries, and BlueVine has already provided over $2.5 billion in financing to more than 20,000 small businesses.
Future fundraising opportunities appear promising, given the strong investor interest demonstrated in the recent Series F round, which raised $102.5 million. The involvement of high-profile investors like Citi Ventures and Lightspeed Venture Partners suggests a robust network of financial backers, setting the stage for potential future rounds. However, BlueVine will need to navigate challenges such as competition from other fintech startups and traditional banks, ensuring seamless integration of new services, and maintaining high levels of customer satisfaction as it scales operations.
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