Divido secures debt funding from Silicon Valley Bank to fuel growth

Divido, the world’s largest white label platform for retail finance, has raised -£4.5 million in venture debt funding from Silicon Valley Bank UK Branch (SVB) to fuel further international expansion, hiring and product development as it continues to scale and build out its market-leading platform for lenders and merchants.

The capital from SVB will be used for strategic growth purposes while minimising dilution for existing Divido staff and investors. Divido will use the venture debt facility to support the creation of new roles within the organisation, as it grows internationally and adds further market-leading functionality to its product offering.

Divido’s white label platform connects lenders, merchants, and partners at the point of sale, transforming retail finance with proven technology and industry expertise to create a flexible way to control and configure payments.

Launched in 2014, Divido now has more than 1,000 clients and operates in ten markets across two continents. The company’s mission is to transform retail finance and enable its lender and merchant customers to get to market, fast, with a superior, value-driven, and responsible retail finance programme.

The financing from SVB follows on from Divido’s $30 million Series B fundraising round in 2021. As a result of this investment, the company has gone on to substantial growth.

Neha Mittal, Acting CEO of Divido, commented: “Silicon Valley Bank support comes at a pivotal time for our business. The strides we have made in the fintech sector have placed Divido as a market leader within the UK, with our aim of being a global market leader. This additional funding now enables us to accelerate our key strategic plans to help fuel the next phase of growth for Divido in the global payments sector.”

Craig Fox, Managing Director of Fintech for Silicon Valley Bank UK Branch, said, “Silicon Valley Bank is delighted to extend its partnership with the outstanding team at Divido. It is great to see further funding within the payments sector and Divido is innovating to support the growth of the broader fintech ecosystem. We look forward to watching the team continue to grow, build, and scale in becoming a truly global market leader.”