Divido keeps it together with $15m funding
Divido, a London-based consumer finance platform, has raised $15 million in its Series A funding round.
The round was led by Dawn Capital and DN Capital, with participation from Mastercard, American Express Ventures and other previous investors.
The firm aims to use the funds to develop its global expansion, which aims to reach ten more countries by the end of 2019.
The Divido board has also appointed Renier Lemmens as chairman, who has previously served as CEO of PayPal EMEA and COO of the international retail and commercial banking division of Barclays.
Divido’s platform is aimed at retailers, lenders and payment intermediaries to offer instant finance to B2C and B2B customers at the checkout, online and in-store.
The platform, available online, mobile and in-store, connects multiple lenders to deliver high accept rates and low fees.
The company is currently available in the UK, Germany, France, Spain, Italy, the Nordics and the US, with over 1,000 partners, including Mercedes-Benz, BNP Paribas and Shopify.