White label buy now, pay later player Divido has been declared insolvent.
Launched in 2014, Divido’s platform connected lenders, merchants and partners at the point of sale, enabling sellers to offer their customers the option to make payments in instalments.
The company, which employed 45 staff, last raised $30 million in a Series B funding round in 2021 led by HSBC and ING. This brought the company's total financing to $45 million.
Divido's website has been replaced with a brief notice: "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 interests in the business or assets of the business, please contact Divido@interpath.com and your query will be dealt with as quickly as possible."