Bill.com divvy5/10/2023 ![]() 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,” said CEO and Founder René Lacerte. 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. “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.” ![]() “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,” said Divvy CEO and Co-Founder Blake Murray. The Utah-based company will be able to offer its 7,500 small business customers automated payable, receivables, and workflow capabilities. Additionally, Divvy’s tools will offer businesses real-time insight into their B2B spending and provide them access to multiple payment solutions.Ĭombining the two companies also boosts Divvy’s capabilities. The new capabilities will help the California-based company enable its 115,000 customers to automatically manage accounts payable, accounts receivable, and corporate card spend. The deal is expected to close at the end of ’s first fiscal quarter ending September 30, 2021.Corporate expense management platform Divvy has agreed to sell to small business financial software provider for $2.5 billion.Īdding Divvy’s technology to its platform expands ’s solution. Our expanded platform will provide more automation and real-time information to SMBs, enabling them to make more informed decisions." René Lacerte, CEO and Founder, stated, "Since founding, I have been driven by the desire to build solutions that make a real difference for small and mid-sized businesses. can now offer smart corporate cards combined with expense management and budgeting software, while Divvy will be able to offer automated payable, receivables, and workflow capabilities to the more-than 7,500 monthly active small and medium businesses (SMBs) that it serves. Shares of BILL rose 15% to $150.12 as of Friday at 10:58am.īILL's acquisition of Divvy will greatly expand each companies capabilities. Divvy modernizes finance for business by combining expense management software and smart corporate cards into a single platform.īill.com will finance the acquisition through approximately $625 million in cash and $1.875 billion of BILL common stock. ( BILL) stock surged today after the cloud-based financial software company announced it had acquired Divvy in a transaction worth around $2.5 billion.
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