30. Divido

Company: Divido

CEO: Todd Latham

Website: https://www.divido.com/

Description: As consumer behaviour continues to change at pace, Divido is on a mission to transform retail finance. Divido’s whitelabel platform connects lenders, merchants and consumers at the point of sale, creating a new way to control and configure payments.

 

divido

 

About Divido

As consumer behaviour continues to change at pace, Divido is on a mission to transform retail finance. Divido’s whitelabel platform connects lenders, merchants and consumers at the point of sale, creating a new way to control and configure payments.

Consumers who are looking for more transparent and value-driven ways to pay continue to demand more. In parallel, agile disruptors that have spotted the opportunity are colonising the market, fast.

As one of those disruptors, Divido saw the opportunity differently and focussed on the benefits it could bring to its two core audiences; traditional lenders and enterprise retailers, and in turn ensuring the end consumer had better, more flexible, ways to pay.

Specifically looking at the lender market, Divido’s expertise brings the opportunity to get to market, fast, with tried-and-tested technology, without the added risks associated with building in-house.

For retailers, not only does Divido enable them to deliver flexible payment options at the point of sale, but as a whitelabel solution, it also puts the control back in their hands, allowing them to work with multiple lenders via an omnichannel, multi-geo platform.

Further, as disruptive brands, like Klarna, start to receive negative media attention in an unregulated arena, eroding consumer trust, Divido enables retailers to protect their brand from reputational damage.

Divido was founded back in 2017, and in the past year we went through our Series B funding round. Not only did we secure an oversubscribed, $30 million funding round, the participants validated our value proposition in a highly competitive market.

ING and HSBC, two of the world’s major global banks, came into the funding round as lead investors – compelling evidence that the technology we bring to established lenders delivers value. Further, consumer giant Sony, under Sony Innovation Fund, also invested as part of the same funding round giving further validation of Divido’s technology from the retailer’s perspective.

In the past year their turnover has doubled, and their headcount has increased by 29% to meet the rising market demand. They expect this to continue as the market cap hasn’t been reached. It is estimated that the retail finance market will hit a value of $2.5 trillion by next year, increasing from $1.7 trillion in 2017. Its rapid rise in popularity – especially with millennials and Generation Z – has seen Buy Now Pay Later uptake increase by 200%.

This year, financial regulators across the globe have started to roll out plans for regulating the buy-now-pay-later market.

This is a game changer for the industry and for consumers – and they are perfectly placed to handle the pending changes. They have been in consultation with policymakers and advocated for regulation to better protect consumers, and ensure reputations.

 

 

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