Souter Investments has invested in DivideBuy, an interest-free-only credit provider.

The Stoke-on-Trent fintech firm allows retailers to provide interest-free credit as a purchasing option for customers.

It has now attracted backing from the family investment office of Sir Brian Souter.

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Max Thowless-Reeves and Rob Flower, its co-founders, said in a statement: “This investment by leading private equity players and banks in DivideBuy reflects the value that our business model and technology creates for retailers and customers and our progress as an organisation.”