StageAcquired | Acquired
Divvy is a secure financial platform for businesses to manage payments and subscriptions, build strategic budgets, and eliminate expense reports. By integrating real-time tracking for every business transaction, Divvy provides organizations with instant insight into their spending. On May 6th, 2021, Divvy was acquired by Bill.com.
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Divvy's Products & Differentiators
Divvy offers business credit as the backbone of our expense management solution. We make it easy to access the funding you need, no matter the size of your business, with fast and flexible business credit. Make it easier to reconcile accounts at the end of the month and get taxes right at year-end; eliminate manual expense reports and cumbersome reimbursement processes by providing individual cards to employees.
Research containing Divvy
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CB Insights Intelligence Analysts have mentioned Divvy in 12 CB Insights research briefs, most recently on Jul 25, 2022.
Mar 9, 2021The United States Of Fintech Startups
Expert Collections containing Divvy
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Divvy is included in 8 Expert Collections, including Digital Lending.
This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.
Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
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Latest Divvy News
Mar 14, 2023
03/14/2023 | 02:19am EDT Message : Company Unveils Four New Offerings to Help SMBs Access and Move Capital BILL (NYSE: BILL), a leader in financial automation software for small and midsize businesses (SMBs), today announced new offerings for businesses impacted by the Silicon Valley Bank (SVB) events. As part of its ongoing commitment to stand with impacted businesses and support SMBs, BILL is expanding its offerings to help them stay fully operational. With these new programs, BILL is helping businesses not just complete payments, but also move and manage funds, and quickly access credit so they can confidently focus on their business needs. “BILL has, and always will, stand by our customers. That’s what being a champion of SMBs is all about,” said BILL CEO and Founder René Lacerte. “For over 16 years, we’ve built a platform that enables customers to automate their financial operations with agility. Last week, we quickly guaranteed all transactions processed by BILL through SVB would be processed successfully before we had guidance from the government. We’ve worked tirelessly since our announcement to honor that promise. We’re now turning our attention to help even more SMBs access and move capital,” Lacerte said. New Offerings to Enable Business Continuity For existing BILL customers who are also SVB customers we are announcing: 1. BILL balance: We are making available a product that customers have already used to transact over a billion dollars. It is a secure and convenient place to store and move funds in order to make faster vendor payments to any bank in the US with no additional fees. ○ To learn more about using BILL balance 2. Pre-approval for a Divvy line of credit*: For BILL customers who need fast access to credit, this program will allow small businesses to quickly pay bills using a new or existing Divvy corporate card. “What I’m hearing from SMBs impacted by the current situation is that they’re focused on keeping their business running, accessing their cash, and increasing visibility,” Lacerte said. “Our platform was designed to enable financial automation and control, and we are bringing the best of our capabilities together for SMBs in this important time of need.” Core Products and Services to Keep SMBs Operational BILL’s core products and services can also help SMBs streamline financial operations, provide better financial controls and visibility, and give users access to capital. On the BILL platform, SMBs can: Drive efficiency and control in day-to-day financial operations by automating payables and receivables workflows on one platform. Manage cash in and out and meet business demands with a portfolio of fast and secure payment offerings including ACH, card, international transfers and more. Access business credit and control expenses with Divvy’s Spend and Expense Management Platform. All of these are a part of BILL’s ongoing commitment to automating the future of finance so businesses can thrive. *While anyone may apply for a line of credit from Divvy, you must be an existing SVB customer to be eligible for a pre-approved credit line. Your actual credit limit may vary. Other terms and conditions apply. About BILL BILL (NYSE: BILL) is a leader in financial automation software for small and midsize businesses (SMBs). As a champion of SMBs, we are dedicated to automating the future of finance so businesses can thrive. Hundreds of thousands of businesses trust BILL solutions to manage financial workflows, including payables, receivables, and spend and expense management. With BILL, businesses are connected to a network of millions of members, so they can pay or get paid faster. Through our automated solutions, we help SMBs simplify and control their finances, so they can confidently manage their businesses, and succeed on their terms. BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and accounting software providers. BILL is headquartered in San Jose, California. For more information, visit https://www.bill.com/ . View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005895/en/ © Business Wire 2023
Divvy Frequently Asked Questions (FAQ)
When was Divvy founded?
Divvy was founded in 2016.
Where is Divvy's headquarters?
Divvy's headquarters is located at 13707 S 200 W, Draper.
What is Divvy's latest funding round?
Divvy's latest funding round is Acquired.
How much did Divvy raise?
Divvy raised a total of $667.5M.
Who are the investors of Divvy?
Investors of Divvy include BILL, Pelion Venture Partners, Insight Partners, New Enterprise Associates, Acrew Capital and 10 more.
Who are Divvy's competitors?
Competitors of Divvy include Torpago, Teampay, Center, Mesh, Airbase, Ramp, Finally, Jeeves, Fenbeitong, Tribal Credit and 16 more.
What products does Divvy offer?
Divvy's products include Business Credit and 3 more.
Who are Divvy's customers?
Customers of Divvy include Noom, Crewtracks, Artemis Health and Crumbl Cookies.
Compare Divvy to Competitors
Brex is a B2B financial product provider that offers a corporate credit card for technology companies.
Ramp offers credit cards targeted at small and medium-sized businesses (SMBs) with a focus on high-growth startups. The company aims to provide companies with higher card limits, saving opportunities, automated expense management, receipt matching, and accounting integration. The company was founded in 2019 and is based in New York, New York.
SAP Concur is a SaaS company that provides travel, expense, and invoice management solutions. It specializes in the development of SaaS-based products that include Concur Request, Concur Expense, Concur Travel, Concur Invoice, and more. The company caters to consumer products, healthcare, financial services, and manufacturing industries. The company was founded in 1993 and is based in Bellevue, Washington.
Pleo offers smart payment cards for employees, enabling them to buy the things they need for work and keeping the companies in control of spending. The company pairs the cards with software/mobile apps to automatically match receipts and track all spending company-wide in real-time, with analytics and accounting software integrations to boot.
Airbase operates as a spend management platform available to small, midsize, and early enterprise companies. Its products include all-inclusive accounts payable automation, bill payments, software-enabled corporate cards, and reimbursements. The company was founded in 2017 and is based in San Francisco, California.
Fyle is a computer vision-enabled expense management platform for enterprises. Fyle's platform can identify expense related data in emails, such as an air ticket receipt or a phone bill, and convert that data so it can be retrieved in a structured format and sent to the expense tool.
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