It’s been a stellar year for the LendTech, which was named a leader in both Deloitte’s latest Technology Fast 50 and Technology Fast 500™
Leading UK LendTech, DivideBuy, today announced it has ranked first place on Deloitte’s UK Technology Fast 50 2020 list. The Newcastle-under-Lyme based company reported an average three-year growth rate of 20,733% to the year 2019/2020.
The UK’s foremost technology award programme is based on revenue growth over the last four years and is announced every November.
This news comes shortly after the company ranked fourth in Deloitte’s Technology Fast 500™ Europe, Middle East & Africa (EMEA) 2019 in August, following Deloitte’s analysis of the fiscal year revenue growth of EMEA businesses between 2015-2018.
Robert Flowers, CEO of DivideBuy, commented, “Not only making it on to Deloitte’s Technology Fast 50 and Fast 500 lists but ranking first and fourth respectively, is a major achievement for DivideBuy. However, most importantly, it’s a testament to both the hard work of the team and the success of our technology and innovative interest-free lending.”
DivideBuy’s technology platform is built on retail understanding and consumer insight, solving many common pain points for its retail partners. This distinctive approach enables retailers to provide a credit option with no hidden small print, and capabilities such as an online checkout that provides real-time credit decisions, thereby leading to increased retail sales.
Robert continued, “DivideBuy’s growth is testament to our talented team based here in the North West and has been driven by strategic investment, allowing us to acquire over 500 retailers to-date. So, to come first within the UK, and fourth across the EMEA region, is a clear indicator that our solution is exactly what the market needs at this time. Ultimately, this is just the beginning of a long and exciting road ahead.”
Jo Balsamo, Chief Marketing Officer of DivideBuy, said, “Fintechs dominated Deloitte’s Technology Fast 50 and Fast 500 lists, highlighting the major growth of technology innovation occurring in the payments space. We’re so excited to be a significant part of that, better connecting retailers with their consumers.
“Moving forward, we’re continuing to evolve our checkout, lending process, and platform while adopting a strategy that provides long-term value to our investors.”
Duncan Down, lead partner for the Deloitte UK Technology Fast 50 programme, added: “The staggering growth of this year’s Fast 50 is testament to the strength of the UK’s technology industry which has continued to prosper in spite of significant market disruption. Their exceptional success in recent years is a marker of their tenacity, commitment, and creativity. I would like to offer my personal congratulations to all of this year’s Fast 50 winners.
“DivideBuy’s three-year growth rate of 20,733% is outstanding, particularly as the business is based outside of the Capital, with its strong network of investors and employees. Several lendtech providers have experienced rapid growth in recent years, but DivideBuy’s distinctive brand and intuitive platform have seen them excel ahead of the pack.”
For 22 years, the Deloitte Technology Fast 50 has acknowledged countless high-profile businesses, factoring in the speed of success as well as a company’s innovation in the market and entrepreneurial achievements.
The full list of this year’s winners and winner breakdown by region and sector is available at www.fast50.co.uk
About the Deloitte UK Technology Fast 50
The Deloitte UK Technology Fast 50 is one of the UK’s foremost technology award programmes. Now in its 23rd year, it is a ranking of the country’s 50 fastest-growing technology companies, based on revenue growth over the last four years. The UK Fast 50 awards are all about growth driven by leading intellectual property and are a celebration of innovation and entrepreneurship. The UK Technology Fast 50 is part of an international programme run by Deloitte and qualifying entrants of the UK Fast 50 will be put forward to the Deloitte Technology Fast 500 EMEA (Europe, Middle East, and Africa) programme. Previous winners have come from across the UK, are both large and small, and included some of the most dynamic players in all areas of technology, from internet specialists to biotech, digital media technology to life sciences, computers to semiconductors, and software to telecommunications.
Founded in 2015, DivideBuy aims to make life more affordable by transforming the point-of-sale (POS) finance industry through innovation and technology. Its eCommerce credit plugin integrates with shopping cart functionalities such as Shopify, Magento, WooCommerce, and Craft Commerce to offer interest-free credit through retail partners.
Currently, in partnership with over 500 retailers, DivideBuy offers a fast 60-second application process and an immediate decision which means that customers can spread the cost of their purchases with no hidden charges. By offering an alternative payment method to customers, retailers can benefit from increased average basket values and reduced basket abandonment. For more details, please visit www.dividebuy.co.uk.