Marketplace lender BlueVine has secured a $75 million credit line from Fortress Credit Corp. and funds managed by affiliates of Fortress Investment Group LLC; the firm provides online working capital financing for small and medium-sized businesses; it plans to use the financing to expand its working capital solutions and specifically its Flex Credit product. Source
BlueVine raised $49 million in a Series D funding round from existing investors including Lightspeed Venture Partners; BlueVine has so far provided $200 million in working capital and says they are on track to lend out $500 million in 2017; BlueVine credits partnerships for a lot of their success, in particular the deal with QuickBooks who says the BlueVine offer is very popular among users. Source
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[Editor’s note: This is a guest post from Eyal Lifshitz, CEO of BlueVine. BlueVine is a Bronze Sponsor at LendIt USA 2016, which...
As non bank lenders continue to gain market share across different loan segments, we wanted to give a complete overview...
Intuit has partnered with BlueVine to make credit more easily available for its QuickBooks users; the partnership will allow small businesses using QuickBooks to obtain credit lines of up to $100,000; BlueVine will add a line of credit product offering to the borrowing options on QuickBooks which currently also include loans from Lending Club, OnDeck and Funding Circle. Source
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