Acquisition of Payments Technology Platform Deko


15th January 2020 – Nemean MidCo Ltd (an investment vehicle controlled by Cinven and CVC Capital Partners and also the shareholder of the NewDay operating group in the UK) (‘Nemean’) has reached an agreement to acquire Pay4Later Ltd (‘Deko’), a retail finance technology platform trading as Deko.

Deko is a fast growing platform used by more than 1,700 merchants across the UK. Deko utilises multiple FCA authorised lenders to find the right credit product for each merchant, enabling customers to receive a finance decision that is most appropriate for their needs in under five seconds, the fastest process in the industry. Deko has processed more than two million credit applications, worth in excess of £2bn, since it was launched in 2010.

Following completion of the acquisition, Deko will operate as a stand-alone entity with no current plans to integrate it into the NewDay operating group. Deko will maintain a separate management team and board.

The acquisition will provide Deko with additional capital to accelerate growth and develop new technology. It will also provide opportunities for Deko and NewDay to leverage their respective experience in order to provide Deko customers with access to new products whilst allowing NewDay to pursue its goal of becoming the UK’s best digitally enabled consumer finance provider. In particular, it is intended that NewDay will launch its digital revolving credit product (‘NewPay’) on the Deko platform during the course of the year.

Deko remains committed to its existing lender relationships and intends to work to maintain and grow its lending panel in order to provide an attractive range of point of sale finance solutions.

The acquisition, which is subject to FCA approval, will initially provide Nemean with a 50.1% interest in Deko.  It is intended that Nemean will acquire the remaining 49.9% over a 3 year period based on the financial performance of Deko.


Scott Law, founder of Deko, said: “NewDay and Deko are a great match. We are really proud of the progress we have made over the last 10 years and are confident that, with the support of our new shareholder and the wider NewDay group, together with their commitment to build a best-in-class platform open to third-party lenders, we can do even greater things. We look forward to working together in this exciting new chapter.”


John Hourican, CEO, NewDay said: “We are immensely excited about joining forces with Deko. The way consumers apply for credit, spend and pay is changing all the time and the Deko team have built a truly innovative platform that transforms how retailers and customers interact. There is a huge opportunity for Deko to continue its rapid trajectory and we are delighted to be helping them fulfil their potential. 

For more information, please contact:

Tulchan Communications

Tom Murray

020 7353 4200


About Deko:

Deko is a leader in point of demand financing. Designed from the ground up for automated online lending, Deko provides services to lenders and merchants to enable then to offer credit as a payment option across all sales channels. Deko works with over 1,700 merchants and growing number of lenders including Omni Capital, Klarna and Braemar to offer secure and convenient retail finance.


About NewDay:

NewDay is a leading consumer credit company serving around five million customers across the UK. We are a digitally enabled business with a clear purpose to help people responsibly make the most of credit. We have a broad – and growing – range of products designed to meet the diverse needs of our customers. Our own-brand business provides credit to those who may not have access to mainstream providers, with products ranging from credit building cards to loans. Our co-brand business offers credit together with loyalty and other rewards in partnership with some of the UK’s most loved brands.

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