Newark, NJ — Choose New Jersey, the state’s leading nonprofit economic development organization, announced that Bluevine, a global financial technology company specializing in small business financing, has relocated its United States headquarters from Redwood, California to Jersey City, New Jersey.
Bluevine officially opened its new Jersey City headquarters at a ribbon-cutting ceremony on Tuesday, January 10. Founder and CEO of Bluevine, Eyal Lifshitz, delivered remarks and was joined by Jersey City Mayor Steve Fulop, New Jersey Secretary of State Tahesha Way, President and CEO of the New Jersey Economic Development Authority, Tim Sullivan, President and CEO of Choose New Jersey, Wesley Mathews, and New Jersey Israel Commission Executive Director, Andrew Gross, who each spoke on the significance of Bluevine’s relocation to New Jersey. Representative Robert Menendez, Jr. shared his remarks via a pre-recorded video.
“Bluevine is a welcome addition to the ranks of great companies calling the Garden State their new home base. The company will not only bring additional jobs to our state but will also help support the many small businesses across our state with their banking solution needs,” said New Jersey Governor Phil Murphy. “This Administration has worked tirelessly to build an environment where companies can thrive, and due to that work, we are now witnessing an influx in companies putting down roots here.”
“We are very proud of Bluevine setting its international headquarters in New Jersey. This is testament of the strong potential for growth for Israeli innovation to the US market, as well as to the compatibility between Israel and Israeli companies’ needs and the State of New Jersey,” said Anat Katz, Economic Minister to North America, Israeli Ministry of Economy. “New Jersey once again proves itself as a great location to set up operations that will support growth and pave the way for success.”
“I’m so proud of what our Bluevine team has accomplished thus far to support small business success and their continued growth,” said Eyal Lifshitz, Founder and CEO of Bluevine. “We look forward to this next phase in Bluevine’s story and believe Jersey City and the State of New Jersey’s strong talent pool, top tier universities, and central location will be catalyzers for Bluevine’s future growth. We are thrilled to be calling Jersey City home.”
Bluevine has doubled its office space footprint in New Jersey and is starting to explore additional expansion in the state. About 125 staff members are based in the Jersey City office, and Bluevine expects to recruit approximately 200 new positions with a preference and focus on sourcing talent in New Jersey, making this one of the largest single job announcements from an Israeli-founded company in New Jersey history.
“I am proud to celebrate the expansion of Bluevine as we show yet again that New Jersey is on the cutting edge of innovation and a beacon for the global business community,” said New Jersey Secretary of State Tahesha Way.
Founded in Tel Aviv, Israel, Bluevine currently has offices in Israel, India, Texas, Utah, California, and New Jersey. Israel has long had deep economic, commercial, and cultural ties to New Jersey. The relocation of its headquarters to Jersey City validates and strengthens the relationship between the two states and serves as yet another example of the strong bridge between the Start Up Nation and the State of Opportunity.
“We congratulate Bluevine as they become yet another success story in the New Jersey-Israel relationship which continues to bring enormous benefits to our state,” said Karin Elkis and Mark S. Levenson, Co-Chairs of the New Jersey-Israel Commission. “Our office is committed to attracting top talent from Israel and working with our partners in government to keep delivering and ensuring that Israeli businesses are warmly welcomed in the Garden State.”
“With 200 new jobs being announced on top of 125 already established by Bluevine in Jersey City, this marks one of the largest single job-creating events from Israel in New Jersey history,” said Andrew H. Gross, Executive Director of the New Jersey-Israel Commission. “New Jersey is setting the bar when it comes to the growth and expansion of Israeli companies into the United States as we continue to welcome innovators like Bluevine who are creating jobs and building our economy of the future.”
Bluevine, which has had a presence in Jersey City since 2018, has been committed to both serving New Jersey small businesses and contributing to the growth of the State of New Jersey. Bluevine has served over 13,000 small businesses in New Jersey, including over 9,000 through the Paycheck Protection Program (PPP). Through its participation in PPP, Bluevine was able to help save over 24,000 jobs at the height of the COVID-19 pandemic.
Proximity to New York City, the financial capital of the world, and access to a vast talent pool were cited as the main reasons for relocating the company’s headquarters to the state. Bluevine is focusing on building out the team in Jersey City and has recently opened a marketing department and R&D hub. They will be recruiting for a number of R&D positions including full-time and paid internships as well as positions in business development, business operations, commercial operations, finance, product, human resources, and risk departments.
“I congratulate Bluevine on expanding its Jersey City presence by moving its headquarters to New Jersey. As a fintech company founded in Tel Aviv, Bluevine will find no better home in the United States than right here in the Garden State,” said Wesley Mathews, President & CEO of Choose New Jersey. “We thank Bluevine for not only being a member of the New Jersey business ecosystem but also for its commitment to supporting and being a trusted financial partner to small business owners. The services that Bluevine offers certainly help to grow and expand the state’s economy.”
“Bluevine’s decision to relocate their U.S. headquarters to New Jersey, bringing 200 new jobs to Jersey City, serves as a testament to Governor Murphy’s successful corporate attraction strategy for both innovation and international businesses,” said New Jersey Economic Development Authority CEO, Tim Sullivan. “New Jersey’s strategic location and competitive talent pool has allowed for companies like Bluevine to grow and thrive, all while benefiting our state with quality jobs that support the entrepreneurs and small businesses that enhance the dynamism of our communities.”
Bluevine also plans to participate in programs to mentor and provide financial education for small businesses in New Jersey to contribute back to the small business community.
Bluevine provides small businesses with streamlined banking solutions built for them. Since launching in 2013, Bluevine’s innovative and intuitive products, including business checking, bill pay, and line of credit, have helped over 450,000 entrepreneurs save time and money so they can focus on what matters most: growing their business. Bluevine is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft’s Venture Arm). Lines of credit are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member of FDIC. Banking Services are provided by Coastal Community Bank, Member FDIC.
For more information, please visit bluevine.com.
About Choose New Jersey, Inc.
Choose New Jersey is a privately funded 501(c)(3) economic development organization with a mission to stimulate job creation and attract capital investment to New Jersey. Choose New Jersey markets New Jersey both domestically and internationally as the best place to grow a business in the United States. Knowledgeable, experienced staff, supported by a network of State agencies and private partners, provide free, confidential assistance to guide companies in establishing operations in New Jersey. By harnessing the power of business, labor, academic and government leaders, Choose New Jersey enables growth across all sectors of the State’s economy, aspiring to build a stronger and more prosperous New Jersey for all. To learn more, visit www.choosenj.com.