Israeli exit: Fintech company Bluevine sold for $340 million

Valley National Bank is acquiring Bluevine, a digital banking platform for small businesses, for $340 million. The deal includes a platform with $2.1 billion in deposits and engineering and product teams. Bluevine founder Eyal Lifshitz will join Valley's management.

Valley National Bank is acquiring Bluevine, a digital banking platform for small businesses, for $340 million. The consideration will consist of 75% cash and 25% Valley stock. The deal is expected to contribute 8% to projected 2028 earnings per share, with a 5% dilution in tangible book value and a payback period of about three years. Bluevine, founded in 2013 by Eyal Lifshitz, raised $290 million in equity and $770 million in debt. Its valuation was estimated at $700-800 million in 2019. The acquisition includes a platform with $2.1 billion in deposits, 175,000 active customers, and 180 R&D personnel. Lifshitz will join Valley as head of small business banking. The deal strengthens Valley's digital and AI strategy.