Divvy, a Lehi, Utah-based tech startup, secured a $250m facility from Waterfall Asset Management.
This new funding will allow the company to keep up with expected customer growth in 2019, facilitate access to the capital businesses need, and ensure an overall customer experience.
Led by CEO Blake Murray, Divvy is a lender and secure financial platform for businesses to streamline the entire financial cycle, from funding to reconciling. With Divvy, users can manage payments and subscriptions, build strategic budgets, and eliminate expense reports. By integrating real-time tracking for every business transaction, the company 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.