BlueVine, a Redwood City, CA-based provider of working capital financing to small and medium-sized businesses, secured a $200 million asset-backed revolving credit facility with Credit Suisse.
The company will use the capital to expand its business line of credit product.
Led by Founder and CEO Eyal Lifshitz, and Ana Sirbu, Chief Financial Officer, BlueVine is also raising its business line of credit limit to $250k. Earlier this year, the company doubled its invoice factoring credit limit to $5m.
Its total funded volume since founding is expected to top $1 billion in 2018.