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.
BlueVine appointed Mira Srinivasan to the role of chief risk officer. In this position, Srinivasan will build on the foundation of BlueVine’s current risk team and further improve underlying policies, customer experience and risk models and underwriting.
BlueVine appointed David Quinn as its new chief financial officer. In this position, Quinn will lead BlueVine’s financial functions helping accelerate strategic growth at the company. He will report to Eyal Lifshitz, CEO and co-founder of BlueVine.
Since the start of the COVID-19 pandemic, struggling SMEs and SMBs have found it more difficult to find the capital they need to survive. At the same time, alternative lenders like fintechs have had to adapt their plans in order to continue being a reliable source of financing. Such creativity will still be needed in 2021 as more opportunities arise.
BlueVine named marketing veteran Patrick Adams as its chief marketing officer. In this role, Adams will oversee all marketing functions and will report to Eyal Lifshitz, CEO and co-founder.
BlueVine secured a $75 million revolving credit facility from funds managed by Atalaya Capital Management. The funding builds on an existing partnership with Atalaya, which also is serving as a lender for BlueVine’s online invoice factoring product.
BlueVine is partnering with FLEETCOR Technologies to help businesses apply for government relief funding through the Small Business Administration’s Paycheck Protection Program.
As fintech companies start counting their birthdays in the double-digits, both traditional lenders and regulatory bodies have had to accept the world rapid online lending has created. Ken Brause of OnDeck, Eyal Lifshitz of BlueVine and Sebastian Rymarz of Fundbox sat down with ABF Journal to take stock of the past decade or so in the fintech world, discuss some of the changes seen in 2018 and speculate on what the future may hold for the industry.
Online lender BlueVine named Silicon Valley technology and engineering veteran, Herman Man, its chief product officer. Man will focus on developing the next generation of BlueVine products.