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CompanyProfile

Boost revenue, delight customers with BNPL

ivideBuy founder and CEO Rob Flowers saw
the potential of buy now, pay later (BNPL)
when he established DivideBuy in 2014.
D Today, the UK-based firm, headquartered in
Stoke on Trent, prides itself on being at the forefront of a
global BNPL movement, modeling the way to long-term
affordable consumer payments.

Flowers, originally a sporting goods retailer, was seek- ISO/MLS contact:
ing a solution that could help consumers spread the cost
of expensive products so they could enjoy their hobbies James Bradley
and not be financially disadvantaged. With this principle Sales & Business Development Director
in mind, he created DivideBuy to improve the shopping
experience. "We want to make life affordable for consum- james@dividebuy.co.uk
ers," Flowers said. "Unlike other BNPL providers, Divide-
Buy allows consumers to choose their payment terms +44 800 085 0885
with interest-free payments up to 12 months." www.dividebuy.co.uk
Growing company

Reflecting on the company's exponential growth, Flow- sumer to commit to a purchase that they may have previ-
ers stated DivideBuy employs more than 50 professionals ously been hemming and hawing over."
who work across sales, marketing, technology, analytics
and customer service. In 2020, the company achieved a Generational attitudes, particularly among millennials,
number one ranking in Deloitte's Fast 50 and is on track to are also shaping the BNPL movement, Bradley stated,
hit £175 million in gross merchandise value (GMV) by the noting that many young consumers who do not have
end of 2021, he added. In September 2021, DivideBuy com- credit cards do not have cash on hand for certain larger
pleted a £300 funding round led by Davidson Kempner purchases such as furniture and travel. "While this gen-
Capital Management LP, which, Flowers said, will be in- eration also faces looming debts from student loans, they
strumental in bolstering DivideBuy's C-suite, platform in- may use credit options, especially tech-driven and en-
vestment, retailer network and global expansion. hanced lending solutions that are diverting consumers
from credit cards toward POS finance," Bradley said.
"The sheer scale of this investment underlines the strength Partner benefits
of DivideBuy's business model," Flowers said in a state-
ment, acknowledging that his company is disrupting the Bradley pointed out that BNPL customers repay their
POS finance sector by owning the full lending journey lenders over a course of months while retailers that of-
with assistive technology, automated soft credit checks fer BNPL are paid upon confirmation of product delivery,
and transparent lending with no hidden fees. which makes BNPL a positive alternative to retail-initiat-
ed financing and beneficial for retailers and consumers
Flowers said he expects DivideBuy to achieve continued alike. Clearly, consumers are after more credit to make
growth through ongoing product enhancements particu- their purchases, but they don't want any more credit
larly related to the online customer journey. "We will aim cards, he added.
to enhance or develop new products and services to at-
tract new retailers and consumers," he said. Flowers mentioned that in addition to offering favorable
terms, DivideBuy is one of a handful of providers with a
Global movement dedicated account management team, so the company can
James Bradley, sales and business development director at support its retail partners with knowledgeable, growth-
DivideBuy, attributed global BNPL growth to consumer oriented professionals while managing client relation-
expectations, stating consumers increasingly expect fi- ships and helping them identify growth opportunities to
nance options at the POS—for high ticket purchases in support their sales goals.
particular.
Bradley further noted that working with DivideBuy en-
"Financing big-ticket items allows consumers to spread ables payments enterprises to improve cash flow manage-
the cost of their payment, instantly making purchases far ment and tap into consumer segmentation and targeting.
more affordable and accessible," Bradley said. "This op- The company's flexible technology treats each customer
tion is so appealing that it will actually persuade a con- as an individual and gives retailers and partners revenue-
boosting strength, he added.
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