Bluevine

Bluevine
Company type
Private
Industry
Founded2013; 13 years ago (2013)
Founders
  • Eyal Lifshitz (CEO)
  • Nir Klar (CTO)
Headquarters
Jersey City, New Jersey
,
United States
Area served
United States
ProductsBusiness loans, banking services
Number of employees
500+[1][2] (2024)
Websitebluevine.com

Bluevine is an American financial technology company that offers financial services to small and medium businesses in the United States. The company was founded in 2013 and is headquartered in Jersey City, New Jersey.[3][4]

Originally an invoice factoring company, Bluevine has since shifted its offerings to include business lending and checking.

History

Eyal Lifshitz and Nir Klar founded Bluevine as an online-only business financing company headquartered in Palo Alto, California, in 2013.[1][5][6][7] Their business model was designed to disrupt small business lending by using machine learning algorithms to speed up risk assessment[6][7][8] and invoice factoring to deliver loans faster than competitors.[5][6] In April 2016, Bluevine expanded its product line to include a business line of credit through Celtic Bank.[5][9][10]

By 2019, Bluevine had moved its headquarters to Redwood City, California. That year, Bluevine announced an FDIC-insured business checking account and Mastercard debit card.[1][11] They subsequently raised another $102.5 million in funding, for a total of over $240 million.[11][12]

In 2020, Bluevine offered expedited applications for Paycheck Protection Program (PPP) loans, which were established by the CARES Act.[11][13] Bluevine was one of the top lenders by application volume, up until the PPP program expired in June 2021.[13][14]

In December 2022, the United States House Select Subcommittee on the Coronavirus Pandemic released a report on several fintech companies over their roles in approving potentially fraudulent PPP loan applications.[11][13][15][16][17] The report claimed that fintech companies “faced challenges in properly administering the program,” and that Bluevine reduced PPP fraud by implementing new software, manual reviews, and continuous review by Celtic Bank and Cross River Bank.[10][15][18][19]

Bluevine moved its headquarters again to Jersey City, New Jersey in 2023. An opening ceremony was held on January 10, attended by Jersey City Mayor Steven Fulop and New Jersey Secretary of State Tahesha Way.[4][10][20]

Business and products

Lifshitz has stated that he founded Bluevine to offer financial products to small businesses, which he saw as a gap in the financial services market.[1][3][21] While Bluevine was founded as an invoice factoring platform, the company later expanded its scope to provide multiple financial services on one platform, which came to include business lines of credit and checking accounts.[1][22]

Starting September 2023, Bluevine expanded its FDIC insurance to cover up to $3 million for its checking accounts.[3] In November 2023, Bluevine announced a high-interest checking account.[23] In May 2025, Bluevine added invoicing and payment links via a partnership with Stripe.[24]

References

  1. ^ a b c d e Volinsky, Jenya (Feb 2, 2022). "These Israeli Guys Want to Be the Biggest Lenders in U.S. for Small Businesses". Haaretz. Archived from the original on 2022-05-30. Retrieved September 3, 2025.
  2. ^ Orbach, Meir (Dec 10, 2024). "Bluevine cuts 100 jobs in second round of layoffs in six months". CTech. Retrieved November 13, 2025.{{cite news}}: CS1 maint: deprecated archival service (link)
  3. ^ a b c Chakravarty, Rajashree. "Bluevine plans IPO while sticking to small business lending". Banking Dive. Retrieved 29 August 2025.
  4. ^ a b Bergeron, Tom (7 September 2023). "Bluevine CEO Lifshitz, on company's 10th anniversary, explains why moving HQ to Jersey City has been perfect fit". ROI-NJ. Archived from the original on 12 July 2025. Retrieved 29 August 2025.
  5. ^ a b c Kim, Eugene. "This former VC took a huge pay cut to launch a startup that lets people borrow money easily". Business Insider. Archived from the original on 2020-02-22. Retrieved 2025-09-04.
  6. ^ a b c Roof, Katie (2016-01-20). "BlueVine Raises $40 Million To Help Small Businesses With Cash Flow". TechCrunch. Archived from the original on 2024-11-18. Retrieved 2025-09-04.
  7. ^ a b Levy, Ari (2016-04-27). "Why Citigroup is backing online lending start-up BlueVine". CNBC. Archived from the original on 2016-04-28. Retrieved 2025-09-04.
  8. ^ Taulli, Tom (2019). Artificial Intelligence Basics: A Non-Technical Introduction. Apress. p. 34.
  9. ^ Wack, Kevin (2016-04-07). "Online Business Lender BlueVine Jumps into Unsecured Loans". American Banker. Retrieved 2025-09-04.
  10. ^ a b c Coll, Jordan (2023-01-11). "Bluevine announces new corporate headquarters in Jersey City". Retrieved 2025-09-04.
  11. ^ a b c d Balogh, Shannen. "Small business lender BlueVine just nabbed $102.5 million in funding on the heels of its banking launch". Business Insider. Archived from the original on 2024-12-25. Retrieved 2025-09-04.
  12. ^ Solomon, Shoshanna (2019-11-19). "Fintech firm BlueVine gets $102.5m from investors including Citi, Microsoft". The Times of Israel. ISSN 0040-7909. Archived from the original on 2025-01-21. Retrieved 2025-09-03.
  13. ^ a b c Davis, Michelle (October 7, 2020). "PPP Scammers Made Fintech Companies Their Lenders of Choice". Bloomberg Businessweek. Archived from the original on October 8, 2020. Retrieved September 4, 2025.
  14. ^ Segers, Grace (2021-03-30). "Biden signs PPP extension into law, moving application deadline to May 31 - CBS News". www.cbsnews.com. Archived from the original on 2025-06-19. Retrieved 2025-09-04.
  15. ^ a b Dawkins, Jennifer Ortakales. "Fintechs are under scrutiny over fraudulent PPP loans and small businesses could suffer. Here are the biggest takeaways from the federal investigation". Business Insider. Archived from the original on 2025-08-17. Retrieved 2025-09-04.
  16. ^ Erskine, Kurt (January 18, 2023). "Screening Failures Caused PPP Fraud". The National Law Review.
  17. ^ Qing, Koh. "U.S. lawmakers probe Kabbage, BlueVine and partner banks over pandemic loans -letters". Reuters. Archived from the original on 2022-12-07. Retrieved 2025-11-13.
  18. ^ Reyes, Max (December 1, 2022). "Fintechs' Lax Oversight Enabled PPP Fraud, Report Says". Bloomberg. Archived from the original on May 1, 2023. Retrieved September 4, 2025.
  19. ^ Select Subcommittee on the Coronavirus Crisis, p1,7,73-79, 85
  20. ^ "Financial tech company BlueVine opens new headquarters in Jersey City". News 12 - Default. Archived from the original on 2025-05-22. Retrieved 2025-09-04.
  21. ^ Malandrino, Jill (Aug 16, 2023). "Filling the Gap Left by Big Banks for Small and Medium-Sized Businesses". Nasdaq Trade Talks. Retrieved September 3, 2025.
  22. ^ Rogers, Bruce. "BlueVine Grows Online Financing Platform For Small Business". Forbes. Archived from the original on 2024-06-25. Retrieved 2025-09-03.
  23. ^ Hrushka, Anna. "Bluevine rolls out high-yield interest rate for SMBs | Banking Dive". www.bankingdive.com. Retrieved 2025-11-13.
  24. ^ Harrington, John (2025-05-29). "Bluevine partners with Stripe to launch invoicing and payment links for small businesses". ROI-NJ. Archived from the original on 2025-08-12. Retrieved 2025-09-04.

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