Lending software company Divido is looking to work with US powersports OEMs after partnering with UK-based Triumph Motorcycles, Co-Founder and Chief Executive Christer Holloman told Powersports Finance.
The global technology company began a partnership with Triumph Motorcycles in May, allowing the OEM’s UK-based dealerships to offer point-of-purchase financing.
Through Divido’s white-label platform, customers will be offered financing by the OEM’s lenders at the point they make a purchase — whether online, over the phone or in person. The technology company only connects its partners with lenders; it doesn’t collect payments or underwrite loans.
The program is available only to Triumph’s UK dealer network, though Divido is “absolutely looking to work with more powersports OEMs and retailers in the U.S. and around the world,” Holloman said.
Retailers using the integration “can increase sales up to 20% and average order values by 15%,” and lenders can expand their loan portfolios and grow their transaction revenues, Holloman explained. The platform will help Triumph motorcycles “increase sales and average order values, whilst providing consumers with the flexibility and power to decide how they want to pay,” he added.
Funded by Mastercard and American Express Venture, Divido works with more than 30 banks and lenders, including Nordea Finance and BNP Paribas, and more than 1,000 partners from every industry, according to Holloman.