BlueVine is a fintech startup that provides flexible working capital financing to small and medium-sized businesses, giving them quick access to funds needed to purchase inventory, cover expenses, or expand operations. BlueVine last month announced that it has closed $60 million in equity funding. Today, BlueVine announced that it has raised another $12 million from new investors including M12, Microsoft’s venture fund.
“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.”
“Our successful customer acquisition, risk and capital markets strategy that has made it possible for us to build a strong, robust business,” Chief Financial Officer Ana Sirbu said. “We are excited to welcome M12 and Nationwide as BlueVine’s newest investors.”