UK-based purchase now, pay later agency Divido has raised $30 million in a Sequence B funding spherical led by each HSBC and ING.
The fintech says it would use its new money to gas worldwide growth, whereas persevering with to construct out its platform for lenders and retailers.
HSBC and ING have been joined within the spherical by contemporary buyers SBI Funding, OCS, World Mind and DG Daiwa Ventures. Present backers DN Capital, Daybreak Capital, IQ Capital and Amex Ventures additionally participated.
Based in 2014, Divido claims to have greater than 1,000 purchasers throughout ten markets. It permits partnered retailers to supply branded BNPL options to customers at checkout.
“The retail finance market is in a interval of exponential progress, anticipated to hit $2.5 trillion subsequent yr,” says Divido CEO, Christer Holloman.
“At Divido, we now have created a world commonplace for banks, retailers and cost companions to attach seamlessly to supply [BNPL] to customers.
“It’s massively thrilling to have this spherical led by international purchasers, which is testomony to the power of our product and the strategic influence we ship.”
Jan Willem Nieuwenhuize, managing director of ING Ventures, says Divido has a “robust strategic match” with ING’s client finance enterprise.
“That is an thrilling and quickly rising market that’s consistently evolving and accelerating. We see Divido as an innovator on the very forefront of the market.”