Business lending and secure finances startup Divvy has sealed a $250m funding facility from Waterfall Asset Management to help it keep up with expected growth in 2019.
The company aims to help streamline the entire financial cycle, from funding to reconciling, allowing users to?manage payments and subscriptions, build strategic budgets and eliminate expense reports.
Divvy CEO?Blake Murray?said, “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.”
Waterfall, which was founded in 2005, is an institutional asset manager focused on structured credit and private equity investments.
The firm has about $7.3bn in assets under management.
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