British digital bank and loan fintech Zopa acquired compatriot buy-now-pay-later startup DivideBuy for an undisclosed sum.
The acquisition comes on the heels of a £75M ($90M) venture round that Zopa closed earlier this month. Zopa is anticipating a revenue boost of around 20% after closing the acquisition.
Zopa expects the DivideBuy acquisition will play a big role in the firm's BNPL 2.0 push as it sets out to revamp its existing technology.
- With DivideBuy under its wing, Zopa aims to take advantage of the synergies to offer increased credit limits of up to £30,000 for BNPL transactions.
- To date, Zopa has raised nearly $886M in funding.
- SoftBank led the firm's £220M (~$260M) funding round in October 2021, valuing the firm at £750M (~$902M).
