It takes 2 seconds to create one through the platform, and you can manage them all online. Employees with access to cards can easily categorize their transactions online, so your finance teams can access real-time clarity about budgets and save time in the whole process.ĭivvy offers as many virtual business cards as you need, all for free. When you use Divvy, all business charges happen on a Divvy card. Learn more at combines a business credit card with an online expense management platform to help businesses manage their expenses and getting business credit through an easy online application process.
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By providing the capital and financial software they need, Divvy helps businesses in every industry to thrive. With Divvy, finance leaders get real-time visibility into their company spend and flexible controls that prevent teams from ever going over budget. We're thrilled to support Divvy's continued expansion."įinancial Technology Partners (FT Partners) served as exclusive advisor to Divvy on this transaction.ĭivvy modernizes finance for business by combining expense management software and smart corporate cards into a single platform.
"PayPal and Divvy share a goal of simplifying all that goes into running a business, which creates more time to focus on customers.
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"With its compelling free software, Divvy is poised to become a key part of the financial nervous system for businesses," said Peter Sanborn, Vice President, head of corporate development at PayPal and managing partner of PayPal Ventures. With this round of funding, Divvy plans to invest heavily in product development and engineering in order to accelerate their future roadmap. The valuation of $1.6 billion and the addition of key investors validates Divvy's ambition to modernize financial processes by combining credit, vendor, and spend management into a single platform. As a result, Divvy has driven a 500% increase in monthly sign-ups since March 2020.
We're fortunate to be able to build for companies of all sizes and we're grateful to everyone who has helped us get here."ĭivvy's simplified process and cost-saving benefits are especially important to Main Street businesses that are navigating the challenges and opportunities brought on by the COVID-19 pandemic.
"We're not just building for tech startups-we help businesses across the country by providing the capital and financial software they need to thrive. "The best in every vertical choose Divvy," said Blake Murray, CEO of Divvy. A rapidly growing number of businesses are choosing Divvy, including tech companies like Noom, e-commerce merchants like Solo Stove and Rhone, vision care leaders like EyeCare Partners, LLC, and iconic sports franchises like the Utah Jazz and the Atlanta Dream. By combining free expense management software with corporate credit cards, Divvy's centralized platform allows businesses to manage their spend with real-time visibility and control over their budgets.
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