Divvy’s $250 Million Funding


Paul Hastings LLP advised Divvy on the transaction

Divvy, the growing tech startup, have secured a $250 million facility from Waterfall Asset Management. This new funding will help Divvy keep up with expected customer growth in 2019, facilitate easier access to the capital businesses need, and ensure an overall better customer experience.

Divvy is a lender and secure financial platform for businesses that helps streamline the entire financial cycle, from funding to reconciling. With Divvy you can manage payments and subscriptions, build strategic budgets, and eliminate expense reports. By integrating real-time tracking for every business transaction, Divvy 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.

Paul Hastings advised Divvy with a team including Rich Davis (Picture), and also included Tax partner Joe Opich and corporate associates Robert Hopkins, Melanie Sedrish, Sara Weed and Paul Yu.

Involved fees earner: Richard Davis – Paul Hastings; Robert Hopkins – Paul Hastings; Joseph Opich – Paul Hastings; Melanie Sedrish – Paul Hastings; Sara Weed – Paul Hastings; Paul Yu – Paul Hastings;

Law Firms: Paul Hastings;

Clients: Divvy Pay Inc;

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Author: Ambrogio Visconti