FundThrough, a financial technology platform, acquired the invoice factoring business of financial technology company BlueVine. All BlueVine invoice funding division employees are joining FundThrough as part of the transaction. The acquisition will expand FundThrough’s efforts in the U.S. market, doubling its number of U.S. clients.
FundThrough has grown 1,071% over the past three years and almost 300% since last year, funding thousands of B2B clients since the company was founded in 2014. The fintech company has scaled to process more than $120 million in funding per month while raising $25 million in equity since its inception. The acquisition of BlueVine’s invoice factoring business is expected to more than double the number of funding transactions that FundThrough makes annually.
“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,” Steven Uster, co-founder and CEO of FundThrough, said. “BlueVine was one of our biggest competitors in the U.S. market, and through this acquisition we can fulfill our mission on a much larger scale. We look forward to providing BlueVine’s invoice factoring clients with the same responsive, personalized customer service and seamless funding experience that FundThrough’s existing clients rely on and appreciate.”
“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. As we evolve our products and services, we continuously examine how we can better serve our customers at scale,” Eyal Lifsthiz, co-founder and CEO of BlueVine, said. “We determined that FundThrough is perfectly positioned to serve our factoring clients with the care and individual attention they need and deserve. Our factoring clients will be in great hands with FundThrough.”