Divvy Raises $200M in Series D

Divvy has successfully raised $200M in a Series D at a $2.5B valuation led by NEA, Insight Partners.

Company Overview

Divvy is a Fintech company headquartered in Lehi, UT, founded in 2016 with 300+ employees.

Expense management platform

Fundraising Details

Amount Raised: $200M
Round Type: Series D
Valuation: $2.5B
Date: 2024-06-08
Investors: NEA, Insight Partners

About Divvy

Expense management platform The company is positioned in the Fintech sector, serving a growing market with innovative solutions.

Key Information

Headquarters: Lehi, UT
Founded: 2016
Team Size: 300+
Industry: Fintech

What This Means

This funding round demonstrates strong investor confidence in Divvy's vision and execution. The capital will likely be used to:

Scale Operations: Expand the team and operational capacity
Product Development: Enhance existing products and develop new features
Market Expansion: Enter new markets and strengthen presence in existing ones
Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The Fintech sector continues to attract significant investment as companies innovate to meet evolving market demands. Divvy's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $2.5B valuation marks an important milestone for Divvy, positioning the company among notable players in the Fintech industry.

Looking Ahead

With this new capital, Divvy is well-positioned to execute on its growth strategy and continue building innovative solutions in the Fintech space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-06-08. For more information about Divvy, visit their headquarters at Lehi, UT.

Divvy