Chris, thanks for joining us today. Can you tell us a bit about Divido?
Sure. Divido is a technology company that lets consumers buy anything in monthly installments,
whilst the seller gets paid in full right away. So, we work with retailers, we work
with lenders, and we work with intermediaries or third parties.
We do three things very differently. First of all, we're omnichannel so it works regardless
of where the customer wants to transact. We're multi-country, which means you do one integration
and then that works for all your customers wherever they happen to live. And thirdly,
we're multi-lender, which means we have higher approvals and lower costs than the incumbents.
And where did the idea come from?
It was really the realisation that consumer preferences are moving on - for example, think
about Netflix. We used to sit down and watch TV shows when the TV networks wanted to broadcast
them. Now we want to get things when we want to and we get that through services like Netflix.
Same thing with Amazon - why go to a store when you can get it straight away? We see
the same thing when it comes to provisional or access to credits - why go to a bank and
speak to a bank manager to apply for a loan, apply for another credit card if you can be
given a line of credit at exactly the moment in time when you need it, in a shop for example.
What sort of traction have you gained so far?
So the company is three years old but we've been transacting and trading for the last
18 months. Back then we worked around four companies, today we have over 300 retailers
on our systems, all the way from SMEs up to big brands like BMW. We are a team of 20 people
at the moment and we’re looking to raise a Series A by the end of this year.
So that’s one thing you’ve got on the map for this year. What else is on the radar?
We have been very focused on the UK market since day one. Now that we've proven out the
concept, we're focusing on international roll-out. So by the end of this year, we're going to
be live in nine countries across Europe. That is very much my focus for the next few months.
Brilliant, best of luck Chris.
Thank you.