Bill.com Acquires Divvy

Bill.com is acquiring spend management technology maker Divvy in a stock and cash transaction valued at approximately $2.5 billion. Divvy is a leader in spend management that modernizes finance for business by combining expense management software and smart corporate cards into a single platform. Bill.com is a provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses.

The acquisition supports Bill.com’s mission and enhances our ability to deliver value to the combined customer base. Bill.com’s expanded solution will enable businesses to automatically manage accounts payable, accounts receivable, and corporate card spend all in one place, saving them valuable time and money. With real-time insight into all their B2B spending and access to multiple payment solutions, businesses will be empowered to spend smarter, better manage their budgets and cash flow, and simplify their back-office financial operations.

“Since founding Bill.com, I have been driven by the desire to build solutions that make a real difference for small and mid-sized businesses. Customers have been asking us to help them with their spend management, and I am excited that together with Divvy, we can deliver on that ask, furthering our vision to transform SMB financial operations. Our expanded platform will provide more automation and real-time information to SMBs, enabling them to make more informed decisions,” said René Lacerte, Bill.com CEO and Founder. “We are excited to work with the talented Divvy team. We have a shared passion for helping SMBs succeed and both companies are driving our customers’ digital transformations. Together, we can further empower SMBs to transition quickly and easily.”