Buy-now-pay-later firm Divido has raised
The retail finance company, which launched in 2014, has a white-label platform that links up lenders, merchants and partners at the point of sale, to make digital spending quicker and easier.
“The retail finance market is in a period of exponential growth, expected to hit
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Matching the rise of online shopping has been the rise in buy-now-pay-later firms – particularly in the era of fast fashion and Covid-19.
“This is an exciting and rapidly growing market that is constantly evolving and accelerating following Covid,” managing director of
However, the company also offers banks the opportunity to boost their lending revenue, Divido’s boss said, adding that it may also “diversify their portfolio and neutralise the threat from new entrants.”
The funding round, led by
Revenue and market growth
Divido already operates in 10 markets but is looking to expand into other markets internationally with its new bout of funding.
“There is clear demand for retail finance across the globe, both from customers and merchants,” the global head of venture, digital innovation and partnerships at
Read more: A post-pandemic high street must be experience-led, says Geek Retreat CEO
The firm, which also allows customers to control and configure their payments, was one of Deloitte’s
Previous winners include
“Being one of the fastest-growing technology companies in the
“We commend Divido for making the Deloitte
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© City AM, source