London, New York, 2 July 2019 – Divido, the multinational white-label platform for point-of-purchase lending, today announces that it has been chosen by Brompton Bicycle, Britain’s largest manufacturer of bicycles, to provide point-of-purchase finance to online customers. With increasing emphasis and importance placed on ecommerce, Brompton has invested in Divido’s platform to ensure that its customers have the option to spread the cost of their purchase.
With online shopping identified as a core growth market in its retail strategy, and with plans to continue growing its business globally, Brompton required a multi-lender, international ready solution that is able to serve customers initially in the UK, with the option of expanding into other markets.
“At Brompton, we’re always evolving our business to meet the changing needs and expectations of our customers, and this is one of the key reasons why we chose Divido as our point-of-purchase platform for online sales,” said Harry Mann, Head of Customer Experience at Brompton Bicycle.“The strength of Divido’s technology coupled with its user-friendly interface and flexibility really makes it stand out from other solutions in the industry. As online shopping continues to become increasingly popular and as our business grows, we see Divido as being integral to our future success.“
“Brompton is well on its journey to improving the way people live and move in cities. A market-leading, user-friendly finance solution will help more people to access the bikes and enable them to realize their vision,” said Christer Holloman, CEO and co-founder, Divido. “By leveraging our international portfolio of lenders, we look forward to supporting Brompton as they continue to grow their online business. Divido’s lending platform will enable Brompton to drive sales, deliver high acceptance rates and low fees, all through a single integration.”
Divido’s lending platform is quick to integrate with, works in multiple markets and with multiple lenders. It is currently available in the U.S., UK, Germany, France, Spain, Italy and the Nordics.
Divido is on track to process its first $1 billion USD worth of credit applications in 2019, as it realizes its vision to become the world’s largest platform for point-of-purchase finance.
About Divido
Divido is a multinational white label platform for point-of-purchase lending; enabling retailers to unlock buying power and lenders to extend a new line of credit at the point of need. Retailers offering Divido can increase sales up to 20% and average order values by 15%, whilst lenders and payment providers licensing Divido’s technology can expand their loan portfolios and grows transaction revenues. Over 1000 partners work with Divido including Brompton Bicycles, lastminute, BMW, BNP Paribas and Mastercard.
Divido connects multiple lenders to deliver high accept rates and low fees. The platform is also omni-channel, available online, in-store and via mobile, and works across multiple countries through one integration. Backed by Mastercard and American Express Ventures in its latest funding round, Divido has a vision to become the world’s largest platform for point-of-purchase finance. To learn more about Divido, visit www.divido.com.
About Brompton Bicycle
Made for Cities
Brompton bikes are sold in 47 countries around the world and over 80% of production is exported. The company is on target to produce over 48,000 bikes this year and over 500,000 have hit the roads since the first bike was made in 1975 by the inventor Andrew Ritchie. A Brompton bike is perfect for those that live, work or play in cities, or want to escape the city: The bike folds up to a third of its size, and weighs on average just 11kg for the standard model and from 16.5kg for the Brompton Electric, which means a Brompton is suitable to take on all forms of transport.
Made for You
Brompton bikes are all custom-made, allowing the customer to choose exactly the bike that suits their needs. A broad selection of accessories and luggage means a Brompton bike can be accessorized as the customer wishes, it’s a complete transport solution. One Brompton bike takes 6.2 tonnes less carbon than a car to make and 42 folded Brompton bikes can be parked in the space it takes to park one car.
Made in London
Brompton Bicycle is the leading bicycle manufacturer in the UK, from its factory in Greenford, West London. Each bike is hand brazed by a skilled craftsman. This makes every bike incredibly tough and unique. Each brazer is trained for 18 months and has a “signature” which is stamped on the parts of the bike they work on. Brompton Bicycles home city of London has seen cycling increase by 91% since 2003.
Brompton Junction
There are 14 flagship Brompton Junction retail stores in cities across the world, including: London, Beijing, New York, Tokyo, Milan, Kobe, Hamburg, Shanghai, Amsterdam, Munich, Barcelona, Valencia, Melbourne and Tel Aviv. Brompton sells to a selected 1500 bike stores worldwide.