BlueVine, a provider of small business banking has raised $102.5 million in series F equity round led by ION Crossover Partners in participation from existing investors including Lightspeed Venture Partners, Menlo Ventures, 83North, SVB Capital, Nationwide, Citi Ventures, Microsoft’s venture fund, M12, and private investors.
The round also saw new investors including MUFG Innovation Partners Co Ltd, O.G. Tech – Eyal Ofer’s VC, Vintage Investment Partners, ION Group, Maor Investments, and other individual investors.
BlueVine is expected to use the fresh funds to further build and scale its vision for Business Banking, a banking platform that features a business checking account integrated with its digital FinTech products, according to a statement.
The BlueVine Business Checking Account simplifies and enhances the banking experience for small businesses with an easy-to-use dashboard and the BlueVine Business Debit Mastercard to manage everyday finances, with features like 1% interest on balances and zero monthly fees.
“This funding further validates our mission and will help democratize true business-grade banking for small businesses who have been underserved for so long,” Eyal Lifshitz, CEO, and co-founder of BlueVine commented.
The funds will help support the company’s future business banking features, such as integrations with its existing working capital…