Valley National Bancorp acquires Bluevine for 340 million USD

Valley National Bancorp announced the acquisition of the Israeli fintech company Bluevine for 340 million USD, according to a statement released on Monday. The payment will consist of approximately 75% in cash and 25% in stock. Bluevine, founded in 2013, provides financial services to small businesses in the United States. Previously, the company raised around 250 million USD in equity and hundreds of millions in debt, achieving a valuation of half a billion USD in the past, making this a modest exit for shareholders.

Reported by TheMarker.