Divido raises £21m Series B round led by HSBC and ING to expand internationally
The funding round was led by HSBC and ING to fuel international growth.
Divido operates a white-label platform for retail finance that connects lenders, merchants and partners at the point of sale. The company supports over 1,000 clients across ten markets.
Divido has secured £21m in a Series B funding round led by global institutions HSBC and ING. The financing includes participation from Sony Innovation Fund by IGV, SBI Investment, OCS, Global Brain and DG Daiwa Ventures, alongside existing backers DN Capital, Dawn Capital, IQ Capital and Amex Ventures.
The capital will be used to support international expansion and further develop the company technology platform for merchants and lenders. Royal Park Partners served as exclusive financial advisor for the transaction.
From the founder
"The retail finance market is in a period of exponential growth, expected to hit $2.5 trillion next year. This provides banks with the opportunity to increase lending revenue, diversify their portfolio and neutralise the threat from new entrants."
Christer Holloman
Founder and CEO at Divido
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
HSBC
ING
Sony Innovation Fund by IGV
SBI Investment
OCS
Global Brain
DG Daiwa Ventures
DN Capital
Dawn Capital
IQ Capital
Amex Ventures