Pivotal Hires Join LendTech Pioneer DivideBuy’s Commercial Senior Leadership Team
By Puja Sharma
DivideBuy, the leading UK point-of-sale (POS) finance pioneer, has announced multiple appointments to its commercial senior leadership team to drive the company’s commercial strategy and fuel its ambitious growth trajectory.
With its unique business model of being both a Tech solution provider and lender, DivideBuy’s revolutionary approach to providing affordable lending solutions comes at a time when interest-free credit is the fastest-growing eCommerce payment method in the world today.
Headed up by the recently-appointed Teresa Byrne, Chief Commercial Officer, these pivotal hires mark an exciting new chapter for the Newcastle-under-Lyme business, following the impressive £300 million funding agreement announced in late 2021 with global investment management firm, Davidson Kempner Capital Management LP.
POS finance accounted for 2.9% of global eCommerce transaction value in 2021 and is projected to account for a 5.3% share of the market by 2025. Driven by agile technologies like that of DivideBuy, the UK’s interest-free credit POS finance market, with 54% of UK consumers using the payment method being from the millennial generation.
With these new hires and funding in place, DivideBuy’s commercial senior leadership team will advance the disruptive fintech’s role as a leading player in the POS finance market, further develop the company’s award-winning SaaS platform and expand its merchant network, both in the UK and internationally.
DivideBuy’s new commercial senior leadership team now includes Pat Hourigan as Head of Sales, Samir Ray as Head of Product, Ben Smith as Head of Partnerships, Scott Winstanley as Head of Marketing, and David Stewart as Head of Compliance.
On the new hires, Teresa Byrne, Chief Commercial Officer at DivideBuy, said, “We’re thrilled that Pat, Samir, Ben, Scott, and David are bringing their in-depth leadership, operations, and business intelligence strengths to DivideBuy, at an incredibly exciting time to be joining DivideBuy as we build on our gathering momentum in the growing POS finance market. With their established expertise and proven business success, the commercial senior leadership team will be a catalyst for DivideBuy’s ambitious plans for the future. We are now well placed to become the go-to credit partner for consumers and merchants, offering the nation’s shoppers truly flexible finance.”
DivideBuy’s latest senior appointments demonstrate its commitment to providing consumers in all income groups with affordable POS finance based on responsible lending practices, as well as giving retailers the ability to offer more consumer payment choices.
Robert Flowers, CEO of DivideBuy, added: “We are delighted to have bolstered DivideBuy’s leadership team with such experienced and inspiring talent, and I look forward to seeing what they will do for the team and the company. Our commercial senior leadership team is now in a position to help scale the business and redefine the ethical consumer credit space for our customers through new products, partnerships, and markets. These appointments will further engrain our ethos of ethical and accessible lending throughout our people and our business.”
“We have always put the consumer at the heart of our business and pride ourselves on being able to help consumers make informed purchasing decisions thanks to having no late fees, installment repayments over longer periods, deposit weightings, and payment holidays. Ultimately, DivideBuy has one goal – to make fair, ethical, affordable, and fee-free lending accessible to consumers at all income levels.”
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