Divido Raises $30M Series B from HSBC and ING for White-Label BNPL

Divido announced a $30 million Series B funding round in June 2021, led by major banking institutions HSBC and ING. The capital will be used to expand Divido's white-label buy-now-pay-later (BNPL) product across its existing 10-market footprint and into new geographies. Unlike consumer-facing BNPL brands, Divido provides the underlying technology that enables banks, retailers, and payment partners to offer branded BNPL products under their own names.

HSBC and ING's participation as lead investors is significant, as it represents traditional banks investing in infrastructure that allows them to compete in the BNPL space without developing proprietary technology. The platform's white-label approach allows partners to maintain their brand identity while accessing Divido's lending technology and compliance framework. This positions Divido as a key BaaS-style enabler in the rapidly growing BNPL market.

The deal reflects a broader trend of banks preferring to partner with or invest in embedded finance providers rather than building capabilities internally.