FundThrough acquires BlueVine Invoice Factoring

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FinTech FundThrough announced on Thursday (January 13th) that it has acquired the invoice factoring business of financial technology company BlueVine, accelerating its strategic focus on integrated finance and its expansion efforts in the United States, doubling the American customer base of the society.

All employees of BlueVine’s invoice financing division will join FundThrough as part of the agreement. FundThrough helps business owners turn unpaid invoices into working capital, solving cash flow challenges with prompt payments.

“We are committed to helping small businesses grow and thrive, especially those selling to large customers where long payment terms and lack of financing options hinder a business’s growth,” said Steven Uster, co-founder and CEO of FundThrough. announcement.

“BlueVine was one of our biggest competitors in the US market, and with this acquisition we can fulfill our mission on a much larger scale,” he said. “We look forward to providing BlueVine’s invoice factoring clients with the same responsive, personalized customer service and seamless funding experience that existing FundThrough clients rely on and appreciate.”

FundThrough has grown 1,071% over the past three years and almost 300% since last year. She has funded thousands of B2B clients since the company was founded in 2014. The company has grown to process over $120 million per month and has raised $25 million in equity since its inception.

The acquisition of BlueVine’s invoice financing division is expected to more than double the number of financing transactions completed by FundThrough each year.

FundThrough cuts the average 60-day business invoice payment time by nearly 97% through its AI-powered funding platform, which generates automated offers, and partnerships with companies such as Intuit and Enverus.

“Since the launch of BlueVine, we have focused on the financial needs of small businesses and are very proud of what we have been able to accomplish. As we evolve our products and services, we are constantly examining how we can better serve our customers at scale,” says Eyal Lifsthiz, co-founder and CEO of BlueVine, in the announcement.

“We have determined that FundThrough is uniquely positioned to serve our factoring clients with the care and individual attention they need and deserve,” he said. “Our factoring clients will be in safe hands with FundThrough.”

Related: BlueVine Appoints David Quinn as Chief Financial Officer

In September, BlueVine announced on Thursday September 16 that it had hired David Quinn as its new Chief Financial Officer.

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