# DivvyPay Startup profile on Capital Atlas: https://capitalatlas.ai/startups/divvypay - Industry: Financial Services - Headquarters: Draper, US - Website: www.getdivvy.com - Total disclosed funding: $411M - Latest round: Series D (Jan 5, 2021) - Investors on record: 9 ## About Founded in 2016 by CEO Blake Murray, and based in Utah, US, DivvyPay, Inc. offers a spend and expense management platform for businesses and modernizes finance. The company offers a smart corporate credit card to provide instant visibility and control of companywide spending for small businesses to large enterprises. In 2021, DivvyPay, Inc. raised USD 165 million in series D funding at a valuation of USD 1.6 billion, led by new investor PayPal Ventures, with participation from other new and returning investors. In 2021, Bill.com, LLC acquired DivvyPay, Inc. for USD 2.5 billion in cash and stock. The transaction is expected to close in September 2021. As of 2021, the company has helped over 9,000 companies and staffs over 300 employees. The company offers a spend management platform for small and mid-size businesses and provides access to scalable business cards, budget tracking, and management of invoices. The company also provides a mobile app that makes expense management easy by providing notifications, additional required information, and review and syncing of transaction data, along with secure virtual cards, customizable categorization, integrations, dispute resolution, and reimbursements. The company’s portfolio of products includes providing business credit and virtual cards with a unique 16 digit digitally created number for every employee; a spend management platform that offers budget management, budget visibility, and the ability to send and receive money; an expense management software that offers expense automation, reimbursements, subscription management, and accounts integration; as well as AP management such as accounts payable, invoice automation, and OCR technology. The company generates revenue when business owners and their designated employees sign up and receive their Divvy cards. On swiping the Divvy cards such as Mastercard® and Visa® business cards, the merchant shares the fee with Divvy. DivvyPay Inc., plans on utilizing the Series D funding to invest heavily in product development and engineering to accelerate future roadmap. Post the acquisition by Bill.com, Divvy will be able to offer automated payable, receivables, and workflow capabilities to over 75000 monthly active SMBs that it serves. ## Funding rounds - Series D, Jan 5, 2021, $165M — New Enterprise Associates, Insight Partners, Pelion Venture Partners, Whale Rock Capital Partners, Schonfeld Strategic Advisors, Hanaco Venture Capital, PayPal Ventures, Acrew Capital - Series C, Apr 30, 2019, $200M — New Enterprise Associates, Insight Partners, Pelion Venture Partners - Series B, Jul 24, 2018, $35M — Insight Partners, Pelion Venture Partners - Series A, May 4, 2018, $11M — Pelion Venture Partners, Album VC ## Investors - Pelion Venture Partners (https://capitalatlas.ai/funds/pelion-venture-partners) — Series A, Series B, Series C, Series D - Album VC (https://capitalatlas.ai/funds/album-vc) — Series A - Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series B, Series C, Series D - New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series C, Series D - Whale Rock Capital Partners — Series D - Schonfeld Strategic Advisors — Series D - Hanaco Venture Capital (https://capitalatlas.ai/funds/hanaco-venture-capital) — Series D - PayPal Ventures (https://capitalatlas.ai/funds/paypal-ventures) — Series D - Acrew Capital (https://capitalatlas.ai/funds/acrew-capital) — Series D