BlueVine Helps Companies with Lumpy Cash Flow

This post is part of our live coverage of FinovateFall 2014.

BlueVine showed how it can provide funds for small businesses quickly to solve cash flow issues:

“BlueVine gives small businesses an advance on their invoices that they can use to cover expenses or grow their business. We integrate with the most popular cloud accounting software so SMBs can request funds with a click of a button. There is no cost to sign up, no minimum volume requirements, and no termination fees. We offer businesses both discretion over their customer relationships, and control over their financing needs.

BlueVine works with B2B companies with invoice terms of 15 to 90 days and funds invoices with a face value of $500 or more. Customer credit lines typically start between $5,000 and $15,000 and can go up $50,000. Funds can be available as fast as 24 hours, and sooner for returning customers.”

Presenting: Eyal Lifshitz, CEO and Edward Castaño, VP Operations

Product Launch: March 2014

Metrics: $5.5M raised, 15 employees

Product distribution strategy: Direct to Business (B2B)

HQ: Palo Alto, CA

Founded: July 2013

Website: bluevine.com 

Twitter: @BlueVineCapital

Alumni News, 22 August 2014

• EyeVerify raises $6 million in Series A round, joins Wells Fargo Startup Accelerator.

• Find out more about the innovators of FinovateFall 2014 with Part 2 of our Sneak Peek Preview series.

• Continuity Control announces $10 million investment.

• Zumigo earns a spot in, and an investment from, Wells Fargo Startup Accelerator.

• BlueVine brings in $1.5 million in funding. Check out BlueVine’s live demo at FinovateFall.

• Four notable website upgrades on Bankbazaar.com.

• Houston Chronicle features Lending Club success story.

• Check Point Software Technology positioned as a Leader in the 2014 Gartner Magic Quadrant for Unified Threat Management.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

BlueVine Brings in $1.5 Million in Funding

Last week, in an extension of its latest seed round, BlueVine raised an additional $1.5 million. This, along with the $4 million round in March, brings its total funding to $5.5 million.

While the specific investor was not stated, investors in previous installments include:

• Greylock Partners Israel
• Lightspeed Venture Partners
• Kreos Capital
• Correlation Ventures
• Kima Ventures

BlueVine’s platform frees up cash flow for small businesses by providing expedited payment to bridge the gap between outstanding invoice payments and working capital for business operations. After the small business connects their invoicing software to BlueVine, here’s what happens:

• They select the invoices for which they want immediate funding
• BlueVine funds 85% of the invoice amount up front
• When the invoice is due, the customer pays and the small business receives a rebate

BlueVine will demo live on stage at FinovateFall this September 23 and 24 in NYC.