London, UK – 8th April 2022: Divido, the world’s largest white label platform for retail finance, has raised £4.5 million in venture debt funding from Silicon Valley Bank UK Branch (SVB) to fuel further international expansion, hiring and product development as it continues to scale and build out its market-leading platform for lenders and merchants.
The capital from SVB will be used for strategic growth purposes while minimising dilution for existing Divido staff and investors. Divido will use the venture debt facility to support the creation of new roles within the organisation, as it grows internationally and adds further market-leading functionality to its product offering.
Divido’s white label platform connects lenders, merchants, and partners at the point of sale, transforming retail finance with proven technology and industry expertise to create a flexible way to control and configure payments.
Launched in 2014, Divido now has more than 1,000 clients and operates in ten markets across two continents. The company’s mission is to transform retail finance and enable its lender and merchant customers to get to market, fast, with a superior, value-driven, and responsible retail finance programme.
The financing from SVB follows on from Divido’s $30 million Series B fundraising round in 2021. As a result of this investment, the company has gone on to substantial growth.
Neha Mittal, Acting CEO of Divido, commented:
Craig Fox, Managing Director of Fintech for Silicon Valley Bank UK Branch, said,
At Divido, we set the standard for retail finance. Our whitelabel platform creates a flexible way for lenders, merchants and partners to control and configure payments, in a way that meets the evolving needs of customers at the point of sale.
Our award-winning technology and industry expertise has enabled clients such as BNP Paribas, Nordea, Lastminute.com and Lenovo to get to market fast, with a proven, multi-geo, omni-channel platform.
Divido has over 1,000 clients and operates in ten markets across two continents.
About Silicon Valley Bank UK Branch
Silicon Valley Bank (SVB) helps innovative businesses, and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centres around the world.
With commercial and international banking services, SVB helps address the unique needs of innovators to increase their probability of success by fuelling innovation for a better world. Learn more at svb.com/uk.