Divido recognised for growth and future-proofed business model in TechRound FinTech50
Written by Marketing Team
Divido is delighted to announce we have been placed within the TechRound FinTech50, supported by Oracle NetSuite, which ranks the top 50 fintech companies and startups in the UK.
Celebrating the companies that make one of the UK’s largest sectors tick, the TechRound Fintech50 2022 highlights what companies are doing to grow this exciting industry further.
Divido’s inclusion on the list caps off a successful year for the business. Beginning in June 2021, where we secured an oversubscribed, $30 million Series B funding round led by ING and HSBC – two of the world’s major global banks – we have since grown over 50%.
Divido’s place on the FinTech50 demonstrates the company’s competitive place within the burgeoning checkout finance industry, which is expected to hit a value of $2.5 trillion by next year, increasing from $1.7 trillion in 2017.
This recognition highlights Divido’s exceptional growth, future-proofed business model and novel product offering, which has already helped to connect hundreds of thousands of consumers with secure and regulated checkout finance lenders, driving £2 billion in checkout finance sales with completion rates as high as 76%.
TechRound’s announcement follows a week of judging from an expert panel including Pete Hanlon, CTO at Moneypenny and Benjamin Haas, Senior Director EMEA at IDnow as well as the TechRound editorial team.
TechRound is the UK’s leading voice for startup news and opinions and the FinTech50 highlights the success and progression in UK startups. TechRound remains the best place in the UK to showcase the talent and progress in the startup and tech industry.
With the UK’s fintech sector worth more than £30 billion to the UK economy alone, and with investment in 2021 soaring to more than $37 billion, it is one of the key industries driving the UK economy.
Responding to the announcement, Todd Latham, CEO at Divido, said: “This is an outstanding achievement and caps off another brilliant year for Divido.
“After completing a $30 million Round B funding round in 2021, the business has concentrated on augmenting the Divido platform for the benefit of our partners. To be recognised as one of the top 50 fintechs in the UK at the end of this phenomenal year speaks volumes about our success.
“Checkout finance, or ‘Buy Now, Pay Later’ is a fast-growing and highly competitive sector expected to hit $2.7 trillion in 2023, but is mired by bad press and desperately in need of regulation. At Divido, we are proud to be regulated by design and confident that our platform will prove attractive to lenders and merchants in this changing market.
“To be recognised as one the UK’s leading checkout finance platform providers is testament to our secure, regulated and future-ready business model and shows we are on the right track to continued growth.”
TechRound Co-founders David Soffer and Daniel Tannenbaum commented on the FinTech50, saying: “This year we have seen some extraordinary companies come to the fore and we’re delighted once again to be able to showcase the best of the best in fintech.
“Fintech in the UK is slowly but surely playing an ever-increasing role in the government’s Leveling Up strategy and long may it continue that the UK is the global ‘place to be’ when it comes to Fintech.
“Year after year, TechRound is here to highlight who is doing what in all areas of the startup sector, which of course includes the likes of fintech.”
Divido is the leading platform providing whitelabelled checkout finance solutions for every point of sale. The platform delivers merchants the best of both – high-converting journeys under their own brand and flexible access to competitive finance options from regulated lenders.
See the full announcement surrounding Divido’s inclusion in the TechRound FinTech50 here.
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