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.