Buy now, pay later provider DivideBuy has secured a £300mn lending facility.
In Brief:
The funding comes from global investment management firm Davidson Kempner.
DivideBuy offers interest free credit at the point of sale, to rival buy now, pay later companies like Klarna.
It currently worked with more than 500 retailers.
What does this mean?
DivideBuy says that the additional funding will help it maintain high levels of growth and keep up with the demands of retailers.
The business offers both the technology platform and credit facility to retailers, unlike some other businesses in the BNPL space.
