Divvy is a secure financial platform for businesses to manage payments and subscriptions, build strategic budgets, and eliminate expense reports. Divvy software gives you complete control and real-time visibility into company spending while eliminating the hassle of expense reports. The company provided a statement to TechCrunch, claiming that it is “onboarding thousands of new tech and non-tech customers every month.” Brex also said that it grew its “total customer” figure by 80% in the first quarter, “with total monthly customer additions increasing by 5x. Crunchbase Website Twitter Facebook Linkedin. TechCrunch reached out to Brex, curious about its 2020 and Q1 2021 growth results. Airbase, in contrast, charges for its software. Far from its roots in merely offering perk-laden corporate cards to growing companies, Brex and its myriad rivals - including Utah unicorn Divvy, Airbase and others - are building software suites around their core plastic efforts to help companies manage all elements of their spending.Ī growing rift is showing in how, compared to some rivals, the categories’ largest players, including Brex, Divvy and Ramp, forgo charging for their software, content to eat off other revenue sources including interchange. The duelling rounds raised by Brex and Ramp underscore how active their product category is proving to be. According to Crunchbase data, Brex’s mid-2020 Series C valued the company at just over $3.0bn, including the investment’s $150m in issued equity. Today Divvy, a Utah-based startup that focuses on corporate spend management, announced that it has closed a 165 million round at a 1.6 billion valuation. ![]() only 31 months after beginning the Divvy program. I honestly thought it was too good to be true. The new capital marks Brex’s largest fundraise to date, and was compiled at a valuation that is more than double its most recent private valuation. Rent your new home from Divvy while you get ready to own it, with built-in savings for your down payment each month. ![]() Mere weeks after rival corporate spend startup Ramp announced that it raised a two-part round worth $115m at a $1.6bn valuation, this morning Brex disclosed a $425m funding led by Tiger Global.
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