Its success in doing this has piqued the interest of, a market leading platform that offers automated payable, receivables, and workflow capabilities to thousands of active SMBs.
#Bill.com divvy software#
Divvy has become renowned for modernizing finance for businesses through its ability to merge expense management software and smart corporate cards onto a simple platform. Today, Divvy customers enjoy a comprehensive platform for managing their finances, making the company a market leader in spend management. This first came in the form of corporate cards and automated expense reports. To achieve its mission, the company seeks to provide SMBs with the capital they need and the software to manage it in order to grow and thrive. has offices in San Jose, California and Houston, Texas.Since its launch, Utah-based Divvy has let its mission of “supporting the small and medium-sized businesses that are the backbone of the economy” guide its business practices, with customers cited to be the company’s true north. accounting firms, and accounting software providers. financial institutions, the majority of the top 100 U.S. The company partners with several of the largest U.S. It helps manage cash inflows and outflow. The AI-enabled, financial software platform creates connections between businesses and their suppliers and clients.
Customers use the platform to manage end-to-end financial workflows and to process payments. Led by René Lacerte, CEO and Founder, is a provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses. Led by Blake Murray, CEO and Co-Founder, Divvy is a leader in spend management that modernizes finance for business by combining expense management software and smart corporate cards into a single platform. Divvy will be able to offer automated payable, receivables, and workflow capabilities to the more-than 7,500 monthly active SMBs that it serves. can offer expense management and budgeting software combined with smart corporate cards to its more-than 115,000 customer base and its network of 2.5 million members. The combination will expand the market opportunity for both companies. The acquisition enhances ’s solution to enable businesses to automatically manage accounts payable, accounts receivable, and corporate card spend all in one place. The transaction – approved by the Boards of Directors of both Divvy and – is expected to close by the end of ’s first fiscal quarter ending September 30, 2021, subject to receipt of regulatory approvals and other customary closing conditions. (NYSE: BILL), a provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), is to acquire Divvy, a Draper, Utah-based spend management company, for approximately $2.5 billion.īill.com will acquire Divvy for approximately $625m in cash and $1.875 billion of Common Stock, subject to customary adjustments for transactions of this nature.
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