Valley National Bank to Buy Jersey City's Bluevine for $340 Million
The deal will add 175,000 small business customers and $2.1 billion in deposits to the New Jersey bank's portfolio.
By Nia Foster ·
Small business owners who currently use Bluevine will soon see their accounts integrated into a larger traditional banking institution. Valley National Bancorp of Morristown, New Jersey, announced on Sunday that it has agreed to purchase the digital banking platform. The deal will bring approximately 175,000 active small business customers under Valley’s roof.
Bluevine was founded in 2013 and is headquartered in Jersey City. The company serves businesses nationwide and was named the 2026 Best Overall Small Business Bank by Money.com. Valley National is paying $340 million for the company. The payment structure consists of roughly 75% cash and 25% Valley common stock.
The financial impact on Valley National is substantial. Bluevine brings $2.1 billion in low-cost, digitally sourced deposits. About 99% of these deposits come from non-borrowing customers. Valley National stated that this provides a diversified source of core funding. The bank also gains a suite of integrated banking, payments, lending, and financial-management tools.
The acquisition supports Valley’s strategic goals to enhance its funding base and expand its small business franchise. The bank also aims to accelerate its digital and artificial intelligence strategy. Bluevine contributes approximately 180 research and development professionals and engineers to Valley’s workforce. This addition is intended to bolster the bank’s technology capabilities.
Ira Robbins, Chairman, President, and CEO of Valley National, said the combination of Valley’s balance sheet with Bluevine’s digital platform will help the bank become the bank of choice for small businesses across the country. He noted that Bluevine has built an impressive franchise with a highly engaged customer community.
Eyal Lifshitz, Co-Founder and CEO of Bluevine, said the company was founded to give small business owners the tools to manage and grow their businesses. He stated that Valley shares that commitment and brings the necessary balance sheet capacity and relationship banking expertise. Lifshitz will join Valley as Head of Small Business Banking when the transaction closes.
The sale is expected to be completed sometime in early 2027. Existing Valley National small business customers will gain access to Bluevine’s digital platform upon the closing of the deal.
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