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.
BlueVine is making term loan financing available for business owners through its suite of online financing solutions. The BlueVine Term Loan provides small- and medium-sized business owners with fast and simple access to financing to grow their businesses through BlueVine’s advanced online platform.
Nationwide expanded its relationship with online small business lending company BlueVine by offering BlueVine’s fast and flexible financing to small businesses through Nationwide’s Business Solutions Center.
Fintech lender BlueVine raised another $12 million from new investors: Microsoft’s venture fund M12 and the venture arm of insurance and financial services provider Nationwide.
Fintech lender BlueVine closed $60 million in equity funding, supporting the company’s momentum in the alternative business lending market. The Series E Funding round was led by Menlo Ventures.
BlueVine doubled the credit line size for its invoice factoring product to up to $5 million and increased the limit for its business line of credit product from $150,000 to $200,000.
Before revolving credit, venture capital and equity investments, there was factoring. Today, the world’s oldest method of raising business capital has moved online. With the push of a button, companies can sell their accounts receivable and have funds in their accounts within hours. ABF Journal editor Nadine Bonner speaks with the owners of two fintech factoring companies and their clients to see how factoring has been revolutionized.