Souter takes part in £60m round for DivideBuy

The company will invest in marketing activity following the deal and have a greater pool of available capital to support the growth of its lending network.

Souter has an investment sweet spot of £5-15m, though it is able to invest up to £30m.

Shawbrook and Paragon Bank provided committed and uncommitted debt facilities to support the transaction.

Company
Founded in 2014 and headquartered in Newcastle-under-Lyme, Staffordshire, DivideBuy is a platform that enables retailers to provide customers with interest-free credit. The business has partnerships with 400 retailers.

People
Souter Investments - Calum Cusiter (investment director).
DivideBuy - Max Thowless-Reeves (co-founder, non-executive chairperson).

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