Utah-based tech startup Divvy has secured a $250 million facility from Waterfall Asset Management. The capital will be used for growth, working capital and to improve customer experience.
LEHI, Utah, Jan. 18, 2019 /PRNewswire/ — Divvy, the growing tech startup, announced today they have secured a $250 million facility from Waterfall Asset Management. This new funding will help Divvy keep up with expected customer growth in 2019, facilitate easier access to the capital businesses need, and ensure an overall better customer experience.
CEO Blake Murray of Divvy had this to say about the investment, “Waterfall Asset Management has seen our growth, and the facility will support our company’s vision and platform. It will also help us to continue providing businesses with the flexible capital they need, while both helping to streamline and improve financial management. We believe this investment supports our goal of actively expanding our customer base in 2019 and is key to surpassing our success in 2018; their investment represents a vote of confidence in Divvy and our team, and positions us to gain a stronger presence in the fintech space.”
Divvy is a lender and secure financial platform for businesses that helps streamline the entire financial cycle, from funding to reconciling. With Divvy you can manage payments and subscriptions, build strategic budgets, and eliminate expense reports. By integrating real-time tracking for every business transaction, Divvy supports organizations with instant insight into their spend and the tools to curb losses before they happen.
Waterfall Asset Management, LLC is an SEC-registered asset manager focused on structured credit (asset-backed securities and loans) and private equity investments.
For more information visit getdivvy.com.