White label buy now, pay later provider Divido has been declared insolvent.
Founded in 2014, Divido developed a platform that linked lenders, merchants, and partners at the point of sale, allowing sellers to provide customers with the option of making payments in installments. The company, which had a workforce of 45 employees, raised $30 million in a Series B funding round in 2021, led by HSBC and ING, bringing its total funding to $45 million.
Divido’s website now displays a brief notice stating: “On 5 July 2024, Josh Dwyer and Richard Heis were appointed as Joint Administrators of Divido Financial Services Limited. If you have any questions or inquiries regarding the business or its assets, please contact Divido@interpath.com, and your inquiry will be addressed as promptly as possible.”