BlueVine, a provider of small business banking, secured a $75 million revolving credit facility from funds managed by Atalaya Capital Management. BlueVine will leverage the capital to expand its line of credit lending solutions.
“With this latest funding from Atalaya, BlueVine is poised for continued growth to support small business owners with the working capital they need during unprecedented times of uncertainty,” Eyal Lifsthiz, CEO of BlueVine, said. “More than ever we are committed to providing U.S. small businesses with reliable banking and financing built for them as they recover and look toward future growth.”
The latest funding builds on an existing partnership between the two companies, with Atalaya also serving as a lender for BlueVine’s online invoice factoring product.
“Atalaya is very pleased to assist in BlueVine’s growth and to support small businesses as they navigate the challenging market environment,” Raymond Chan, a partner at Atalaya Capital Management, said. “Atalaya has long respected BlueVine’s commitment to helping small businesses and is excited to expand our partnership and grow together over the next several years.”