Canadian invoice funding platform FundThrough has completed the acquisition of US-based fintech BlueVine. The company said it wants to accelerate its growth in the U.S. to double its American client base.

Following the acquisition, all the employees with BlueVine invoice funding source will now join FundThrough, which will enable business leaders to turn unpaid invoices into working capital.

BlueVine Will Offer The Same Level Of Services Provided By FundThrough

Chief Executive Officer of FundThrough Steven Uster commented on the acquisition deal. “We are committed to helping small businesses grow and thrive,” he stated. Uster added that the goal is to offer more services to customers who are having issues with a lack of financing options and long-term payments. The acquisition deal will also enable the firm to fulfill its mission on a much larger scale.

Uster stated that the company will be offering BlueVine’s invoice factoring clients with the same level of personalized and responsive funding experience that FundThrough existing customers are used to getting.

FundThrough grew more than 300% over the past year, and 1,071% over the past three years. The company has raised funds for thousands of B2B clients since it was established in 2014.

FundThrough has raised more than $120 million since it was funded. The company has regularly hit more than $120 million when it comes to monthly processed amounts.

With the latest acquisition of the deal, BlueVine is expected to double its funding transactions that FundThrough realizes annually.

BlueVine Focused On The Financial Needs Of Small Businesses

Clients will also see faster payments processing as FundThrough can reduce the average time for payments for business invoices from 60 days by about 97%. The company will utilize its Al-powered funding platform, which will be generating automated offers, with partnerships with firms such as Enverus and Intuit.

Co-founder and Chief Executive Officer of BlueVine Eyal Lifsthiz stated that the company has been focused on the financial needs of small businesses. As it keeps evolving its products and services, BlueVine will continue to scale its offerings and offer improved products and services. He added that BlueVine’s factoring clients will be in great hands with FundThrough.