Utah based expense management and virtual card platform has raised a $200m Series C led by NEA.
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Divvy Raises $200M In Its Third VC Round In Under A Year
Divvy operates a business expense management platform that covers all the bases on one dashboard. Aimed at small and medium-sized businesses, the company’s software eliminates the need for expense reports. It also lets companies issue credit cards and control spending limits on the fly. Since launching fifteen months ago Divvy has grown from just 30 employees to more than 200. It has gained almost 3,000 business customers and sees little in the way of churn. It has hundreds of thousands of active credit cards spending on the platform backed by more than $1.6 billion in credit. In 2018 alone there were more than 1.5 million transactions on its platform.
