Reviewers felt that BILL meets the needs of their business better than Corpay One. Reviewers also preferred doing business with Corpay One overall. Ma (NYSE: BILL), a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), announced today that Divvy, a company, has been named CPA. However, Corpay One is easier to set up and administer. News of the deal caused ’s stock to gain nearly 14% in aftermarket trading to USD 148.50. 69.00 Per Month BILL vs Corpay One When assessing the two solutions, reviewers found them equally easy to use. By buying Divvy, will be able to offer expense management and budgeting software, along with smart corporate cards, to its more than 115,000 customers and its 2.5 million network members. The much bigger, which has a USD 10.7 billion market capitalisation, offers cloud-based software that helps small and midsize businesses automate their back-office financial operations. The round valued Divvy at USD 1.6 billion. This includes a USD 165 million Series D round in January 2021 that saw Hanaco, PayPal Ventures, Whale Rock Capital Management, and Schonfeld Strategic Advisors participate. Divvy has raised USD 417.5 million in funding, as Crunchbase shows. The boards of both Divvy and have approved the sale, which is expected to close by the end of ’s first fiscal quarter ending on 30 September 2021.įounded in 2016, Divvy provides software that helps businesses combine expense management software and smart corporate cards onto a single platform. The deal calls for to pay USD 625 million in cash plus USD 1.875 billion in stock, a statement said. I suspect the latter more than the former, but we’ll have to scout for more data when Divvy shows up in results after the deal closes that data is a few quarters away.US-based fintech has announced it is buying Divvy, an expense reporting start-up, for USD 2.5 billion. That’s a software-level multiple, implying that the company has either incredibly strong gross margins, or had to pay a multiples-premium to buy the company’s future growth today. In June 2021, completed the acquisition of Divvy for 2.5 billion, an expense management company that modernizes finances for businesses by combining. Divvy sold for around 25x its current revenue rate. Again, this is a March number annualized. “~$4 billion annualized TPV,” or total payment volume.It also lets us know that the company did no more than $4 million or so in March 2020 revenue. Still having its most recent Q1 month generate a three-figure growth rate is good. Nathan Latka sat down with Alex Bean, CEO of Divvy, to discuss his rockstar growth. The company was founded in 2016 and is based in Lehi, Utah. So, we can’t be sure that its full Q1 2021 growth was over the 100% mark. Divvy is a B2B SaaS fintech that provides everything from expense management to virtual cards and AP automation. Customers use the platform to manage end- to-end financial workflows and to process payments. “>100% revenue growth YoY,” again calculated by leaning on the company’s March results. is a leading provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses.That puts Divvy’s March, 2021 revenues at around $8.3 million. “~$100 million annualized revenue,” calculated using the company’s March results multiplied by 12.The following numbers come from the deck on the deal, which you can read here. So, this afternoon, let’s unpack the deal to gain a better understanding of the huge exit and the value of Divvy’s richly funded competitors. This will not only allow us to better understand the value of the unicorn at exit, but also its competitors, against which we now have a set of metrics to bring to bear. Luckily for us, released a deck that provides a number of financial metrics relating to its purchase of Divvy. The better-than-anticipated results and the acquisition news combined to boost the value of by more than 13% in after-hours trading. Divvy from BILL is a spend and expense management solution that gives small and midsize businesses the credit they need and helps them save time and money by automating expense reports, budgets, and reimbursement processing all in one place. The company’s adjusted loss per share of $0.02 also exceeded expectations, with the street expecting a sharper $0.07 per share deficit. (Divvy), a leader in spend management for SMBs, on June 1, 2021. Per, the transaction includes $625 million in cash, with the rest of the consideration coming in the form of stock in Divvy’s new parent company.īill.com also reported its quarterly results today: Its Q1 included revenues of $59.7 million, above expectations of $54.63 million. completed the acquisition of DivvyPay, Inc. Divvy’s growth rate tells us that the company did not sell due to performance weakness.
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