Fintech organization Monthly bill.com has agreed to acquire Divvy for about $two.five billion in a shift to include expend management and company playing cards to its again-place of work answers.
Monthly bill.com’s cloud application assists little and midsize firms automate billing and invoicing, while Divvy brings together cost management application and wise company playing cards into a solitary platform. Considering that launching in February 2018, Divvy claims it has signed up much more than nine,000 consumers.
Underneath the conditions of the offer, Monthly bill.com will acquire Divvy for about $625 million in hard cash and $1.875 billion of Monthly bill.com shares. In the course of a $one hundred sixty five million funding spherical in January, Divvy set its valuation at about $1.six billion.
“Customers have been asking us to help them with their expend management, and I am thrilled that together with Divvy, we can deliver on that question, furthering