HSBC and ING head up Divido Series B funding round

Divido, a startup whose white label platform connects lenders, retailers and channel partners at the PoS, has announced a $30 million Series B funding round.

The was led by HSBC and ING, with participation from Sony Innovation Fund by IGV, SBI Investment, OCS, Global Brain and DG Daiwa Ventures along with existing investors DN Capital, Dawn Capital, IQ Capital and Amex Ventures.

We did it! 🎉 $30 million #SeriesB funding round closed, led by @HSBC and @ING_news. We're ready for our next chapter of international expansion as we continue our mission to transform #retailfinance. https://t.co/iy59QIwR5y #financialservices #finance #investment #fintech #BNPL pic.twitter.com/VcXcqBQ1in
— Divido (@divido) June 2, 2021

Christer Holloman, Founder and CEO at Divido, says: “The way consumers shop and pay is changing fast, powering the growth of the retail finance market, which is expected to hit $2.5 trillion next year.”

“We have created a global standard for retailers, banks and payment partners to connect seamlessly to offer buy now pay later to consumers.”

“It is hugely exciting to have this round led by global clients, which is testament to the strength of our product and the strategic impact we deliver.”

Launched in 2014, Divido now has more than 1,000 clients and operates in ten markets across two continents. It has raised $45 million to date.

Catherine Zhou, Global Head of Venture, Digital Innovation and Partnerships at HSBC, comments: “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.”

Jan Willem Nieuwenhuize, Managing Director of ING Ventures, adds: “We see Divido as an innovator at the very forefront of the market, so perfectly fits the profile for the dynamic, disruptive companies we choose to partner with.”