The funding from global investment management firm, Davidson Kempner Capital Management, which also includes a minority equity investment, will be invested in driving DivideBuy’s growth in the point-of-sale market and further bolster the fintech’s C-suite, platform investment and retailer network, both in the UK and internationally.
The interest free credit POS finance market, driven by agile technologies, like DivideBuy’s, was worth nearly GBP 10 billion in 2020, and will be worth GBP 27 billion by 2024, according to company data.
DivideBuy offers both the technology platform and the credit facility to the retailer. By cutting out traditional credit suppliers, DivideBuy enables retailers to lower their credit risk and accelerate customer onboarding by improving application approval rates.
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