Working capital finance company BlueVine has launched a credit product and hired a new Vice President.
Flex Credit is BlueVine’s first foray beyond invoice factoring. The revolving business line of credit is available in amounts between $5,000 and $30,000. Funding is available in as soon as one day and available credit replenishes as soon as payments are made.
“We’re excited to bring the BlueVine experience of simplicity, ease of use and transparency to a new segment of the market,” BlueVine CEO Eyal Lifshitz said. “We are currently on track to fund more than $200 million in working capital in 2016. This platform expansion will continue to fuel that growth by allowing us to serve both B2B and B2C businesses.”
Private equity executive Ana Sirbu is BlueVine’s new vie president of strategy and finance. Ms. Sirbu will oversee financial management, growth and debt financing.
Ms. Sirbu joins BlueVine from a management position at growth equity investment fund Google Capital. She has also worked at United Kingdom-based online payments company Skrill, UBS and Silver Lake Partners.
“I am thrilled to join BlueVine at this time of rapid expansion and product innovation,” Ms. Sirbu said. “BlueVine has brought an intuitive technology platform, accessibility and transparency to an underserved small business market. I look forward to leveraging my talents and strengths in financing to propel this company to its next stage of growth.”