Divvy, an app-based expense management platform, has secured a $250 million credit facility from Waterfall Asset Management.

The Lehi, Utah-based startup said the funding would be used for corporate growth in 2019, facilitate easier access capital business needs and to ensure an improved customer experience, according to a press release.

"Waterfall Asset Management has seen our growth, and the facility will support our company's vision and platform," said Divvy CEO Blake Murray in the release. "It will also help us to continue providing business with the flexible capital they need, while both helping to streamline and improve financial management."

The company previously raised $35 million in Series B funding from Insight Venture Partners, bringing its total investment to $57 million.