Divvy and Credit Suisse Close $500 Million Purchase Agreement on Divvy Receivables

LEHI, Utah, Aug. 6, 2019 /PRNewswire/ -- Divvy, the leader in spend and expense management, today announced a $500 million purchase agreement with Credit Suisse, one of the world's leading financial service providers.

"This purchase agreement demonstrates Divvy's strength in the market and will empower us to continue serving our growing customer base," said Blakely Cragun, SVP of finance.

The terms of the agreement give Credit Suisse the ability to buy up to $500 million in Divvy receivables over the next two years. Through this partnership, Divvy can better serve its customers by giving them access to the capital they need to spend smarter and grow their business.

Divvy modernizes the way companies manage spending by fusing financial management software with a smart corporate card. Trusted by more than 3,000 companies, Divvy gives financial leaders real-time visibility into the spending within their organization.

For more information about Divvy, visit getdivvy.com.

About Divvy
Divvy is a financial technology company with a mission to make money smarter by modernizing payment processes and expense management. With Divvy, businesses can make one-time or recurring payments using integrated virtual and physical corporate credit cards — each tied to dynamic limits controlled by centrally-managed budgets. Divvy also automates expense management, delegates payment process, and gives financial leaders real-time visibility and control of companywide spending. Learn more at www.getdivvy.com.

Media Contact:
Divvy PR
Maddie Smith
[email protected]

SOURCE Divvy

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