DivideBuy

DivideBuy operates as a financial technology firm in the UK's point-of-sale (POS) credit market, providing interest-free instalment payment options for consumers. The company was founded in 2014 by Robert Eric Flowers, Christopher Peter Martin, and Max William Thowless-reeves. Flowers, who serves as CEO, entered the financial industry with a consumer-focused perspective, aiming to create a simple credit solution. Despite leaving school at 16, he later earned an aeronautical technology degree from Stafford University and founded his own company, initially focused on cricket equipment, before pivoting to the fintech sector.

The firm's business model is distinctive because it functions as both the technology provider and the direct lender, a structure that allows it to control the entire lending process. This integration enables the company to offer a streamlined service with faster credit decisions, aiming to reduce the complexities and costs associated with the traditional broker model where the tech platform and the financial institution are separate entities. DivideBuy generates revenue by partnering with retailers, who pay to offer the company's interest-free credit solutions to their customers. This helps retailers increase sales, reduce basket abandonment, and grow average order values. The firm serves over 500 retail partners across various sectors, including e-commerce and in-store businesses like property conveyancing and vehicle repair.

DivideBuy offers a POS credit solution that allows shoppers to spread the cost of purchases over two to twelve months. Its technology includes an e-commerce plugin that integrates with major platforms like Shopify, Magento, and WooCommerce. A key feature is the 60-second application process which uses soft credit checks that do not affect a consumer's credit score to provide an instant lending decision. This process is designed to improve approval rates for retailers. Following its February 2023 acquisition by the digital bank Zopa, the service was expanded to facilitate financing for larger purchases, ranging from £250 to £30,000. This acquisition was part of Zopa's strategy to launch a 'BNPL 2.0', combining an integrated user experience with the affordability checks and regulatory safeguards of a licensed bank.

Keywords: point-of-sale finance, interest-free credit, buy now pay later, BNPL, e-commerce credit, retail finance, consumer lending, LendTech, instalment payments, Zopa, fintech UK, POS credit, merchant financing solutions, customer financing, Shopify credit plugin, Magento payments, WooCommerce finance, affordability checks, soft credit checks, retail credit solutions