Divido, a financing startup, won an industry innovation contest in London last week.
The U.K. startup beat out four other finance and mobility startups in a “pitch” contest during the International Auto Finance Network conference in London. While the contest was somewhat informal, with the winner divined by a show of hands, it offered a window into auto finance innovation in Europe.
Divido, which is a member in BMW Group Financial Services’s Innovation Lab in London, beat out four other startups: Warwick Analytics, Wrisk, Drover and UKVehicle. Divido allows consumers to buy goods “in interest free instalments, in seconds, completely paperless.” Divido says it offers small- and medium-sized enterprises “an instant point-of-sale finance solution that works in store, online and over the phone.”
Here are some details on the other companies in the competition:
- Warwick Analytics provides predictive analytics
- Wrisk is a “people-centric” insurtech startup
- Drover providers “Uber-ready” car and van rentals
- UKVehicle makes comprehensive vehicle records available to consumers