HSBC and ING invest in buy now, pay later provider Divido
Buy now, pay later (BNPL) provider Divido has raised USD 30 million in a Series B funding round led by HSBC and ING.
Participants in the round included Sony Innovation Fund by IGV, SBI Investment, OCS, Global Brain, DG Daiwa Ventures, DN Capital, Dawn Capital, IQ Capital and Amex Ventures.
Divido’s platform connects lenders, merchants and partners at the point of sale, enabling retailers to offer customers instalment payments. Founded in 2014, the business had more than 1,000 clients and operated in ten markets across two continents at the time of this report.
HSBC’s Catherine Zhou highlighted strong worldwide demand for credit from both consumers and merchants, and said Divido was helping lenders serve customers in this market.
Mongolian Fintech Association