HSBC and ING invest in BNPL firm Divido

HSBC and ING invest in BNPL firm Divido

News
June 2, 2021 by J.D. Smith
15
White label buy now, pay later player Divido has raised $30 million in a Series B funding round led by HSBC and ING. Sony Innovation Fund by IGV, SBI Investment, OCS, Global Brain and DG Daiwa Ventures, DN Capital, Dawn Capital, IQ Capital and Amex Ventures joined the round. Divido’s platform connects lenders, merchants and
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White label buy now, pay later player Divido has raised $30 million in a Series B funding round led by HSBC and ING.

Sony Innovation Fund by IGV, SBI Investment, OCS, Global Brain and DG Daiwa Ventures, DN Capital, Dawn Capital, IQ Capital and Amex Ventures joined the round.

Divido’s platform connects lenders, merchants and partners at the point of sale, enabling sellers to offer their customers the option to make payments in instalments. Launched in 2014, the firm now has more than 1000 clients and operates in ten markets across two continents.

Catherine Zhou, global head, venture, digital innovation and partnerships, HSBC, says: “There is clear demand for retail finance across the globe, both from customers and merchants. The Divido platform enables lenders to serve customers in this area with a compelling, well-managed proposition.”