Neha Patil (Editor)

Divido

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History

While trying to buy a new sofa, Christer Holloman found that his local independent store, which is the front for the business, was unable to offer the same instalment finance plans as the large retail chains offer. With the help of Anders Hallsten and Fredrik Borquist, and the launched Divido: a service that allows consumers to pay for a purchase in instalments over anything from three months to five years.

Contents

In September 2016, it raises £2.5M in seed funding led by Mangrove Capital, and DN Capital .

How it works

The customer chooses to buy an item and pay over time using Divido as a payment option. The customer completes an application and within one month of receiving the goods or service, instalments will begin to be collected via direct debit.

Advisory Board members

  • Carsten Egeriis: Chief Risk Officer at Barclays PLC.
  • Kevin Dallas: Chief Marketing Officer and Chief Product Officer at WorldPay.
  • Jonathan Rogers: Partner heading up Financial Services Group at Taylor Wessing.

    • Awards

  • Recognised as one of the top 100 startups in the United Kingdom by Startups.co.uk
  • Awarded government grant of £200k from Innovate UK
  • A runner up at the Innopitch European Innovator of The Year by the European Commission.
  • Divido was shortlisted for the Best Investment in a FinTech Business category at the 2016 awards hosted by the UK Business Angels Association, (UKBAA) in July 2016

    • Institutional investors

  • Initial Capital
  • IQ Capital
  • Seedcamp

    • References

    Divido Wikipedia
    (Text) CC BY-SA