MUFG Innovation Partners Co., Ltd.
MUFG INNOVATION PARTNERS
ANNOUNCES INVESTMENT IN BLUEVINE
NEXT-GENERATION SMALL BUSINESS BANKING
TOKYO and REDWOOD CITY, Calif., November 20, 2019 – MUFG Innovation Partners Co., Ltd. (MUIP), a corporate venture capital fund and wholly owned subsidiary of MUFG, has invested in BlueVine Capital Inc.
BlueVine is a leading provider of technology based small business banking. The company now provides term loans, invoice factoring and lines of credit. And also they start providing checking accounts for small businesses recently in October. The account includes 1 percent interest and does not have monthly fees. That’s better than typical checking account interest rates at traditional banks.
They are providing various banking services on their platform by collaborating with each partner like Celtic Bank, a Utah-chartered Industrial Bank, The Bancorp Bank. MUIP and BlueVine look toward forming a closer strategic relationship together.
With this investment, BlueVine will use the funding to further build and scale its vision for BlueVine Business Banking, an end-to-end banking platform featuring a business checking account seamlessly integrated with BlueVine’s technology-enabled suite of online financing products.
MUIP’s primary focus is to pursue partnerships and business synergies between MUFG group companies and portfolio companies. It plans to continue seeking investment opportunities in the financial technology (Fintech) sector.
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About MUFG :
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with around 3,000 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english
About BlueVine :
BlueVine empowers small businesses with innovative banking designed for them. BlueVine’s advanced online platform is intuitive and offers a convenient solution for the banking and working capital needs of businesses. BlueVine offers a suite of products designed to meet the diverse financial needs of today’s business owners including BlueVine Business Checking, Line of Credit, Term Loan, and Invoice Factoring. Based in Redwood City, California, BlueVine has provided small and medium-sized businesses with access to more than $2.5 billion in financing and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83 North, SVB Capital, Citi Ventures, Nationwide Insurance, and M12 (Microsoft’s Venture Arm). All lines of credit and term loan products are issued by Celtic Bank, a Utah-chartered Industrial Bank. Bank account services are provided by The Bancorp Bank.
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Press contact:
MUFG Innovation partners Co., Ltd
info_muip@ip.mufg.jp
