Divvy

Leading spend management platform acquired by Bill.com to expand into expense management

Divvy was a spend management platform that combined corporate cards, expense management software, and budget tracking into a unified solution for businesses. Founded in 2016, the company offered free corporate cards with no personal guarantees alongside software that provided real-time visibility into company spending, automated expense reporting, and budget controls. Divvy's platform allowed finance teams to issue virtual and physical cards to employees with customizable spending limits and automatic reconciliation. The company gained significant traction in the fintech and spend management space by offering its core platform for free, monetizing through interchange fees from card transactions. Divvy served thousands of businesses ranging from startups to mid-market companies, helping them eliminate manual expense reports and gain better control over corporate spending. In June 2021, Bill.com acquired Divvy for $2.5 billion in an all-stock transaction, one of the largest acquisitions in the spend management sector. Following the acquisition, Divvy's technology and team were integrated into Bill.com's platform, with the Divvy brand eventually being absorbed into Bill.com's broader suite of financial automation products. The acquisition allowed Bill.com to expand beyond accounts payable into comprehensive spend and expense management.