Its $60m Series E round has been extended to accommodate the new investors.
Online business lender BlueVine has packed more money into its Series E round, bringing the fundraise to $72m in total.
The new money comes from M12, Microsoft’s venture fund, and the venture arm of insurance and financial services provider Nationwide.
BlueVine announced that it had raised $60m through a Series E round in June, with Menlo Ventures taking the lead. The money was raised to expand its invoice factoring and business loan products, as well as to accelerate its R&D with new hires.
“We're excited about BlueVine’s suite of technology-enabled working capital solutions for small and medium sized businesses,” said Elliott Robinson, partner at M12. “The company’s market traction to-date has been impressive and we believe their technology and talent have set them on the path for continued growth. We look forward to seeing what they do next.”
The company has also notched another milestone, recently passing $1bn in cumulative funding to US businesses, after five years of operations.
The fintech firm employees more than 200 people across offices in Redwood City, New Jersey, New Orleans and Israel.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.