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.