Buy Now Pay Later provider DivideBuy Secures £300m Investment to Accelerate Growth
Summary
• None DivideBuy is on track to hit c£175 million in Gross Merchandise Value (GMV) by the end of 2021 • None More than 500 retailers, including Cloud Nine and Simba Sleep, use DivideBuy’s technology • None Interest free credit provider will use funding to work with retailer partners to increase conversion rates at a time of immense opportunity for ecommerce STOKE-ON-TRENT, England, September 10, 2021--(BUSINESS WIRE)--Leading buy now pay later (BNPL) provider, DivideBuy, has secured a £300 million lending facility as it continues its stellar growth trajectory. DivideBuy has also recently announced a brand-new partnership with recommerce experts, musicMagpie, creating a brand new rental platform for the retail giant. The proposition marks another area of growth for the business as it continues to meet growing demand from tech-savvy consumers and remains ahead of market competitors. Unlike other POS finance solution providers, DivideBuy offers both the technology platform and the credit facility to the retailer. Flowers adds: "The partnerships we’ve secured with leading businesses like musicMagpie demonstrates how much our solution resonates with consumers looking for more flexible and affordable ways to pay.