Fintech Company BlueVine Closes $60 Million in Series E Funding

Alternative business lending market company BlueVine secured $60 million in equity funding in a Series E round led by Menlo Ventures, and included new investor SVB Capital as well as major existing investors.

Founded in 2013, BlueVine strives to be one of the leading fintech players in online small business lending. According to the company, its total funded volume since inception is expected to top $1 billion in 2018.

The company plans to use the financing to accelerate R&D hiring, expand its highly-successful invoice factoring and business line of credit products, and explore new products catering to small and medium-sized businesses.