Alternative lending company BlueVine landed $49 million in a Series D funding round this week. Contributors include existing investors Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, Rakuten Fintech Fund, and Silicon Valley Bank.

BlueVine’s funding now totals $113 million. In a press release, the company notes the new funds will “support BlueVine’s rapid growth as it expands its team and range of offerings.” Since launching in 2014, BlueVine has funded more than $200 million in working capital for thousands of small businesses. The company projects it will fund more than $500 million in 2017.

BlueVine offers a straightforward line of credit to help small businesses get the working capital they need. The company is best known for Invoice Factoring, in which it issues cash to small businesses who sell their unpaid invoices at a discount, then receive working capital in a matter of days to help manage operations. Unlike BlueVine’s traditional line-of-credit offering, the term of the financing is short, usually 60 to 90 days.

Along with the funding news, BlueVine also announced it has once again increased its line of credit. The invoice factoring limit has lifted to $2 million, and its business line of credit has been bumped to $100,000. The company’s last increase occurred in July, when the maximum credit line for invoice factoring increased to $500,000 and its Flex Credit line, which launched in April, increased to $50,000.

Recently, BlueVine was dubbed Best B2B Factoring Service by Business News Daily. The company’s CEO Eyal Lifshitz, along with CTO Nir Klar, CRO Moti Shatner, and VP of Operations Edward Castaño debuted BlueVine at FinovateFall 2014 in New York.

Alternative lending company BlueVine this week received an undisclosed amount of funding from Citi Ventures, Citibank’s investing arm. The funding adds to BlueVine’s $40 million round, led by Menlo Ventures, that closed a few months back.

While the full terms of the deal have not been disclosed, the two are working on a strategic relationship. Citibank is already working with P2P lender Lending Club to offer credit to underserved communities, and it’s likely the megabank is hoping to tap into BlueVine’s expertise in factoring, which accounts for about 85% of its business.

In a statement, managing director at Citi Ventures, Arvind Purushotham, states:

“We found BlueVine doing factoring in a much more modern fashion. They’re able to approve invoices to be factored very quickly, and because they’re online and plugged into account systems that small- and medium-sized business use, they’re able to pull data from a variety of sources.”

This strategic partnership follows a recent trend of financial institutions experimenting with alternative lending partnerships. Citibank’s 2015 partnership with Lending Club has so far been successful, but earlier this month the bank shuttered an agreement with Prosper in which Citibank was to sell $377 million in bonds backed by Prosper loans. Also this month, JP Morgan Chase launched a partnership with On Deck to offer online loans to small business clients.

Bluevine’s VP Operations Edward Castaño and CEO Eyal Lifshitz demonstrated on stage at FinovateFall 2014.

Founded in 2013, BlueVine issues working capital to small businesses who sell their unpaid invoices at a discount, then receive $5,000 to $250,000 in a matter of days to help manage operations. Unlike BlueVine’s traditional line of credit offering, the term of the financing is short, usually 60 to 90 days. The Palo Alto-based company’s CEO Eyal Lifshitz debuted BlueVine at FinovateFall 2014.