BlueVine raised cash by selling its invoice factoring service
In January 2022, BlueVine sold its invoice factoring service to FundThrough for an undisclosed price. The sale included BlueVine’s technology and factoring partners. BlueVine has expanded its business credit and bill pay services, moving away from invoice factoring. Its line of credit segment offers $250,000 credit lines with fast approval and interest rates as low as 4.8%. The large amount of cash earned from the sale enables BlueVine to service debts, invest in current products, and expand the product portfolio.
M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
Lorem Ipsum text header Report Title
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Maecenas non leo lacinia, consectetur ipsum non, pretium augue. Vestibulum accumsan dignissim massa, eu scelerisque mi malesuada ut. Aliquam scelerisque facilisis nisl ac varius. Nunc luctus nunc vel eros iaculis, vitae tristique ante fringilla. Ut vitae vulputate est, vel lacinia nisi. Curabitur eget nulla vitae mi faucibus imperdiet. Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.
Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.