Brompton Bicycles has announced it will provide point-of-purchase finance to online customers through multinational white-label lending platform, Divido.
With online shopping identified as a core growth market in Brompton’s retail strategy, the company required an international multi-lender solution to serve its customers initially in the UK, with the possibility of expanding this into other markets.
Divido’s global lending platform will provide Brompton’s customers with the option to spread the cost of high-ticket items such as bicycles through monthly instalments.
Harry Mann, Head of Customer Experience at Brompton, said: “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.
“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.”
Divido’s lending platform is currently available in the UK, Germany, France, Spain, Italy, the Nordics and the US. The firm is on track to process its first $1 billion worth of credit applications in 2019.
Divido CEO and Founder, Christer Holloman, added: “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 access the bikes and enable them to realise their vision.
“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.”
Alongside Brompton, over 1,000 partners work with Divido including Mastercard, BMW, lastminute and BNP Paribas.