DivvyPay Inc.: The #1 Tech Startup to Watch in Silicon Slopes
Posted 5 years ago by Filip Vavera
DivvyPay is an innovative online FinTech payment platform and mobile app that simplifies expense management. Publicly introduced last year, DivvyPay is growing rapidly in the triple digits. As is often the case with startups, DivvyPay’s creation stemmed from a problem Blake Murray, its founder was trying to solve. Now this company is changing the rules of the game in the payment space.
Any company can use DivvyPay, regardless of the size of their business. It’s trusted by customers like Evernote, STANCE, and WordPress. The mobile app is highly rated at 4.6 out of 5 stars. Users praise it’s ease of use, the time they save using it, and how secure it is.
Created in React and Elixir, DivvyPay uses a unique technology; a virtual payment card that lets managers tracks spending and expenses and creates automated reports in real time. The card can also exists in physical form, but its primary benefit is that it can be registered, for example, on the phone of every employee who has the ability to make corporate payments.
Managers can set limits on spending or number of payments, dates by when the money must be used, as well as additional parameters. Separate virtual credit cards can also be used for one-time transactions, then canceled immediately after the transaction occurs. After a payment is made, an automatically-generated report appears in the app. It is also possible to attach photos of receipts to each payment so that employees do not have to save them, which greatly reduces administrative follow-up.
Huge interest from investors and clients confirms that the market values these kinds of options. The company is growing at a rapid pace even on a month-by-month basis. In May 2018, it gained $10 million investment followed by $35 million at the end of July 2018. In January 2019, they secured $250 million to bolster their growth and support their excellent customer experience.
The service is constantly improving and profiq has played a role in that — a team of our people works on development and testing of the product. For example, we’re using Elixir, a relatively new language that is highly effective for work on thousands and even millions of parallel transactions. One more interesting thing about DivvyPay — they aren’t based in Silicon Valley. They are based in “Silicon Slopes,” the nickname for the mountainous, fast-developing tech scene in Utah.