Based in Japan and India. Has led to 1 successful fundraise in Japan. Been working the space of Venture Capital and Private Equity for the last 3 years.

BlueVine, the leading online provider of private equity financing to small businesses, today announced that it has secured $18. 5 million in funding The financing round was led by 83North, formerly Greylock IL, and Lightspeed Venture Partners, with additional participation from Silicon Valley Bank, Correlation Ventures and other private investors. The funding round marks the first investment for 83North since the announcement of its new name and fund.

‘The strong support from our investors is a testament to the quality of our team, the power of our vision and the strength of our customer demand for our solution’

The funding will strengthen the strong traction of BlueVine’s cloud-based online invoice financing service, which has processed thousands of invoices since its launch in March 2014, providing U with several million dollars of working capital. Oh, S -based small enterprises In addition, funding will enable BlueVine to expand into new verticals, add new software integrations and double its staff base in 2015.

‘The strong support from our investors is a testament to the quality of our team, the power of our vision and the strength of our customer demand for our solution,’ said Eyal Lifshitz, CEO and founder of BlueVine. ‘Like consumers, small business owners have grown to expect a delicious experience from each of their service providers. With decades of solutions in place, small businesses are looking for technology-enabled, customer-centric solutions to their financing needs. We are excited to build on our rapid growth as BlueVine continues to be a service trusted by small businesses looking for a smart, simple and convenient solution to fill their cash flow gaps. ”

BlueVine also announced the addition of Ido Lustig, former fraud analysis group manager at PayPal, as VP of risk management. Lustig will lead the Department of Risk Management and Fraud Prevention at BlueVine. Finally, the company announced the addition of three executives-two to the advisory board and one to the board of directors:

Raymond Stern, former SVP of Global Business Development at Yahoo and Intuit Executive (SVP and CMO), has joined the Advisory Board.
Taher Behbehani, CMO of BroadSoft, who held executive positions at BlackBerry, American Express and Time Warner Cable, joined the Advisory Board.
Stewart Wilkinson, former director of Harbormaster Capital with more than 20 years of credit and securitization experience, joined the Board of Directors.
‘BlueVine has built a highly innovative online finance service that allows small businesses to finance their invoices by clicking a button,’ said Laurel Bowden, Partner at 83North. ‘With our investment in BlueVine, we are doubling our belief that BlueVine has a clear vision of the way forward and is able to continue to pursue a customer-focused approach in order to deliver on the potential. ”

BlueVine has pioneered invoice financing, also known as ‘factoring,’ as the first fully online, cloud-based platform that enables quick advances on outstanding invoices so that small business owners can access the cash they need to pay bills, purchase inventory, fund payroll or grow their business. Businesses can qualify for $5,000 to $50,000 in credit lines. Through its online service, BlueVine updates the Digital Age of the Factory Industry, which dates back 4,000 years to King Hammurabi of Babylon.

Towards BlueVine

BlueVine gives small businesses an advance payment on their invoices. Lumpy cash flow and long payment cycles often put a strain on the working capital of small enterprises BlueVine gives small businesses access to the funds they need to purchase inventories, cover costs or expand their operations. BlueVine’s quick, easy, online solution allows small businesses to pay for invoices due on day one within 15-90 days.

Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/BlueVine/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co

Leave a Reply

Your email address will not be published. Required fields are marked *