UK-Based mostly Purchase Now Pay Later Platform Divido Secures $30 Million By way of Sequence B Led By HSBC & ING

Divido, a UK-based purchase now pay later platform, introduced on Wednesday it secured $30 million via its Sequence B funding spherical, which was led by HSBC and ING with participation from Sony Innovation Fund by IGV, SBI Funding, OCS, International Model, DG Daiwa Ventures, DN Capital, Daybreak Capital, IQ Capital and Amex Ventures.

Based in 2014, Divido describes itself as a quick and versatile platform for lenders, retailers, and channel companions to ship and scale their retail finance program. The corporate at present has 1,000 shoppers and operates in ten markets throughout two continents.

“At Divido, we set the usual for retail finance. Our whitelabel platform creates a versatile manner for lenders, retailers and companions to regulate and configure funds, in a manner that meets the evolving wants of shoppers on the level of sale.”

Whereas sharing extra particulars concerning the firm’s providers, Christer Holloman, Founder and CEO of Divido, said:

“The retail finance market is in a interval of exponential development, anticipated to hit $2.5 trillion subsequent yr. At Divido, we’ve created a world commonplace for banks, retailers and cost companions to attach seamlessly to supply ‘Purchase Now Pay Later’ to shoppers. It’s massively thrilling to have this spherical led by international shoppers, which is testomony to the energy of our product and the strategic affect we ship.”

Divido went on so as to add that the funding spherical shall be used to gasoline worldwide growth whereas additionally persevering with to construct out its platform for lenders and retailers.