Divido, a London, UK-based consumer finance platform for retailers, lenders and payment intermediaries, raised $15m in Series A funding.
The round was led by Dawn Capital and DN Capital, with participation from Mastercard, American Express Ventures and other previous investors. The Divido board has also appointed Renier Lemmens as chairman. Mr. Lemmens has previously served as Chief Executive Officer of PayPal EMEA and Chief Operating Officer of the International Retail & Commercial Banking Division of Barclays.
The company intends to use the funds to continue its global expansion.
Led by Christer Holloman, CEO, Divido is a consumer finance platform for retailers, lenders and payment intermediaries to offer instant finance to B2C and B2B customers at the checkout, online and instore.
The platform connects multiple lenders to deliver high accept rates and low fees. The platform is also omni-channel, available online, in-store and via mobile, and works across multiple countries through one integration.
The company is currently available in the UK, Germany, France, Spain, Italy, the Nordics and the United States. Over 1,000 partners that are offering B2C and B2B finance to their customers at the checkout work with Divido. They include Mercedes-Benz, BNP Paribas and Shopify, among others.
Plans are currently underway to expand to 10 more countries by the end of 2019.