Generated with sparks and insights from 19 sources

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Introduction

  • DivvyPay, Inc., now known as BILL Spend & Expense, offers a range of financial services including corporate credit cards and automated expense management software.

  • The company provides credit limits ranging from $500 to $5 million, subject to application approval.

  • DivvyPay was acquired by BILL for $2.5 billion three years ago.

  • The Divvy Business Card is designed to automate the expense-management process for small- and medium-sized companies.

  • DivvyPay is a legitimate company founded in 2017 and is based in San Francisco.

Company History [1]

  • Founded: DivvyPay, Inc. was founded in 2017.

  • Founders: The company was founded by Adena Hefets, Alex Klarfeld, and Nick Clark.

  • Headquarters: The company is based in San Francisco.

  • Growth: Since its inception, DivvyPay has grown to employ over 250 people.

  • Acquisition: DivvyPay was acquired by BILL for $2.5 billion three years ago.

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Financial Services [2]

  • Credit Limits: DivvyPay offers credit limits ranging from $500 to $5 million, subject to application approval.

  • Corporate Card: The Divvy Business Card is issued by Cross River Bank, member FDIC.

  • Expense Management: The company provides automated expense management software that is free to use.

  • Target Audience: The services are designed for small- and medium-sized companies.

  • Integration: The financial software integrates with the corporate credit card to automate expense management.

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Expense Management [3]

  • Automation: The Divvy Business Card pairs with financial software to fully automate the expense-management process.

  • Efficiency: This automation helps small- and medium-sized companies manage their expenses more efficiently.

  • Software: The expense management software provided by DivvyPay is free to use.

  • Integration: The software integrates seamlessly with the corporate credit card.

  • User Base: The service is particularly beneficial for companies looking to streamline their financial operations.

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Acquisition by BILL [4]

  • Acquisition Date: DivvyPay was acquired by BILL three years ago.

  • Acquisition Value: The acquisition was valued at $2.5 billion.

  • Impact: The acquisition has allowed DivvyPay to expand its services and reach a larger audience.

  • Integration: Post-acquisition, DivvyPay's services have been integrated into BILL's broader financial service offerings.

  • Growth: The acquisition has contributed to the growth and development of DivvyPay's product offerings.

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Legitimacy and Founders [1]

  • Legitimacy: DivvyPay is a legitimate company with a strong reputation in the financial services industry.

  • Founders: The company was founded by Adena Hefets, Alex Klarfeld, and Nick Clark.

  • CEO: Adena Hefets serves as the CEO of DivvyPay.

  • Funding: The company has received financing from notable firms including Tiger Global Management and Caffeinated Capital.

  • Employee Base: DivvyPay employs over 250 people, indicating its substantial growth and stability.

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