The startup, named a Forbes Next Billion Dollar Startup in 2019, offers an alternative to the corporate credit card for small businesses who don’t have the means to dole them out to staff. Since launching in February 2018, Divvy said it has signed more than 9,000 customers, a company blog post said. Together, we can further empower SMBs to transition quickly and easily.” We have a shared passion for helping SMBs succeed and both companies are driving our customers’ digital transformations. We are excited to work with the talented Divvy team. Our expanded platform will provide more automation and real-time information to SMBs, enabling them to make more informed decisions. “Customers have been asking us to help them with their spend management, and I am excited that together with Divvy, we can deliver on that ask, furthering our vision to transform SMB financial operations. “Since founding, I have been driven by the desire to build solutions that make a real difference for small and mid-sized businesses,” said René Lacerte, CEO and founder. Today I’m proud that Divvy is joining to bring the one-stop-shop platform that our customers and the market have been asking for.”
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As we listened to our customers, we heard them ask for a comprehensive payments platform so that they don’t have to use multiple software systems to manage their finances. “At Divvy, our customers are our true north, and they always have been.
“We are excited to be joining forces with to help SMBs (small and medium-sized business) grow and thrive by modernizing and transforming their financial operations,” said Blake Murray, Divvy CEO and co-founder. Utah investors in Divvy include Album Venture Partners, Pelion Ventures Partners, Josh James of DOMO and Aaron Skonnard of Pluralsight. Pending regulatory approval, the deal should finalize by October, said. The deal entails a stock and cash transaction valued at approximately $2.5 billion. Divvy's platform automates the way businesses keep track of expense accounts. produces cloud-based software to automate back-office financial operations. Draper-based financial technology company Divvy is being purchased by, a San Jose, California, company.
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