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FundThrough Acquires BlueVine’s Invoice Factoring Business

January 13, 2022 by Fintech Newsdesk Leave a Comment

Toronto fintech FundThrough has acquired the invoice factoring business of financial technology company BlueVine.

FundThrough is a financial technology platform that solves cash flow challenges for growing businesses through fast invoice payments.

The acquisition fast tracks the company’s strategic focus on embedded finance and its expansion efforts in the U.S. market, doubling the number of U.S. clients that will rely on FundThrough to turn unpaid invoices into working capital.

All BlueVine invoice funding division employees are joining FundThrough as part of the transaction.

FundThrough has grown 1,071% over the past three years and almost 300% since last year, funding thousands of B2B clients since the company was founded in 2014.

The fintech company has scaled to process more than USD $120 million dollars in funding per month while being extremely capital efficient, having only raised $25 million dollars in equity since its inception.

The acquisition is expected to more than double the number of funding transactions that FundThrough makes annually.

Based in Redwood, California, BlueVine provides financial services to small and mid-sized businesses. The company addresses the banking and working capital needs of business owners with a suite of products including BlueVine Business Checking, Payments, and Line of Credit. Factoring was BlueVine’s founding product.

Filed Under: News Tagged With: Bluevine, Fundthrough

 
 

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