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    INGA   NL0011821202

ING GROEP N.V.

(INGA)
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Real-time Quote. Real-time Euronext Amsterdam - 07/30 11:37:31 am
10.846 EUR   -1.11%
07/30ING GROEP N : EBA reports on outcome of 2021 EU-wide stress test (Form 6-K)
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07/26European ADRs Move Higher in Monday Trading
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07/26ING GROEP N.V. : UBS reaffirms its Buy rating
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ING Groep N : is back buy-now-pay-later platform Divido

06/02/2021 | 08:19am EDT

New shoes, a bike, a laptop - nowadays pretty much anything can be paid for in instalments. 'Buy now pay later' platforms are becoming popular among both shoppers, who want flexibility at checkout, and merchants, who want to ease the purchase decision for their customers and attract new ones. One such platform is Divido, which has raised $30 million in a funding round led by ING Ventures and HSBC. The funding boost will be used to expand globally.

'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,' said Christer Holloman, founder and CEO at Divido.

Divido's retail finance platform allows consumers to spread the cost of their purchases while merchants get paid as soon as the order is shipped. Unlike its competitors, Divido allows its partners to white-label its technology. This means that merchants, banks and payment companies brand Divido's platform as their own to give their customers the option of paying in instalments when they check out in-store or online.

'ING is focusing its innovation efforts around defined value spaces. One of these is the lending value space and Divido has a strong strategic fit with ING's consumer finance business. This is an exciting and rapidly growing market that is constantly evolving and accelerating post-pandemic. We see Divido as an innovator at the very forefront of the market, so it perfectly fits the profile for the dynamic, disruptive companies we choose to partner with,' said Jan Willem Nieuwenhuize, managing director of ING Ventures.

Launched in 2014, Divido's platform is currently available in 10 markets in the US and Europe. ING is validating Divido's services, with the intention to make them available to its customers.

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Disclaimer

ING Groep NV published this content on 02 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 June 2021 12:18:00 UTC.


© Publicnow 2021
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Financials
Sales 2021 18 075 M 21 451 M 21 451 M
Net income 2021 4 269 M 5 067 M 5 067 M
Net Debt 2021 - - -
P/E ratio 2021 9,84x
Yield 2021 7,93%
Capitalization 42 336 M 50 220 M 50 245 M
Capi. / Sales 2021 2,34x
Capi. / Sales 2022 2,32x
Nbr of Employees 57 000
Free-Float 100,0%
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 10,85 €
Average target price 12,12 €
Spread / Average Target 11,7%
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Managers and Directors
Steven van Rijswijk Chief Executive Officer
Tanate Phutrakul Chief Financial Officer
Gerardus Johannes Wijers Chairman-Supervisory Board
Ronnie Henricus Van Kemenade Chief Technology Officer
Roel Louwhoff Chief Operations & Transformation Officer
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