Divido, buy now pay later platform, raises $30 million Series B to drive international expansion

Launched in 2014, Divido is the world’s largest whitelabel platform for retail finance which connects lenders, merchants and partners at the point of sale, transforming retail finance with proven technology and industry expertise to create a flexible way to control and configure payments.

Today the company has more than 1,000 clients and operates in ten markets across two continents. The mission is to transform retail finance and enable its lender and merchant customers to get to market, fast, with a superior, value-driven and responsible retail finance programme.

Divido raised a $30 million Series B funding round to drive international expansion, while continuing to build out its market-leading platform for lenders and merchants. The round was led by global banks HSBC and ING, with participation from Sony Innovation Fund by IGV*, SBI Investment, OCS, Global Brain and DG Daiwa Ventures along with existing investors DN Capital, Dawn Capital, IQ Capital and Amex Ventures.

Christer Holloman, Founder and CEO of Divido, said: “The retail finance market is in a period of exponential growth, expected to hit $2.5 trillion next year. At Divido, we have created a global standard for banks, retailers and payment partners to connect seamlessly to offer ‘Buy Now Pay Later’ to consumers. It is hugely exciting to have this round led by global clients, which is testament to the strength of our product and the strategic impact we deliver.”

Guy Ward Thomas, Investor at DN Capital, Board Director at Divido, said: “This investment round establishes Divido as the go-to software choice for global banks and lenders looking to launch or upgrade the point-of-sale finance offering for enterprise merchants. Divido is uniquely able to cater to the complex needs of large lenders and global merchants and will be using the proceeds of this round to further enhance the capabilities of their platform.”