Israeli-American fintech startup BlueVine has received $49 million from existing investors Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, Rakuten FinTech Fund and Silicon Valley Bank.
This was the fourth round of funding for Bluevine since it was founded 2013 by CEO Eyal Lifshitz. The firm provides online loans (credit lines of between $5,000 and $50,000) to small businesses.
The company intends to use the funding to add new product offerings and to grow its team, which is currently made up of 93 employees between its headquarters in Palo Alto, California and its R&D center in Tel Aviv.
With this investment, Bluevine has now raised $119 million to date.
Read more: Haaretz