back Back

Hokodo announces a $40m equity investment in Series B Funding Round

By Joy Dumasia

June 23, 2022

  • B2B
  • BNPL
  • Buy Now Pay Later
Share

Hokodo has announced a successful Series B funding round, securing $40 million in equity less than a year after their Series A fundraise. The funding, which comes from a significant debt raise earlier this year, will power the digital trade credit provider’s expansion into new European markets and the development of new products.

Led by Notion Capital, who participated in Hokodo’s Series A, further investment came from continental European investors Korelya Capital (FR), Mundi Ventures (ES), and Opera Tech Ventures (FR), reflecting the enthusiasm for Hokodo’s product in a variety of markets. Additional funding came from existing investors, including Anthemis and Mosaic Ventures.

“We’ve been following Hokodo since the beginning and made an initial investment as part of their Series A. We’re delighted to lead their Series B and double down on our support of Hokodo,” said Patrick Norris, General Partner at Notion Capital. “There’s a lot of excitement around B2B BNPL at the moment, and rightly so because the B2B Ecommerce market is twice as large as B2C. We concluded that the capability and maturity gap between Hokodo and their competitors is enormous. Not only are they the only provider to offer pan-European coverage, but they’re the only one owning the end-to-end value chain. As a result, Hokodo is the only firm able to deliver a cutting-edge purchasing experience across the continent.”

“We’re the only BNPL provider that meets all requirements of B2B merchants, including credit scoring, fraud detection, payments, collections, financing and credit insurance,” said Richard Thornton, co-founder and co-CEO at Hokodo. “We don’t rely on any third party to make credit decisions as we can do it much quicker in-house. This means we can accept more buyers at a faster rate, which our merchant partners love.”

Hokodo’s solutions are underwritten by SCOR Syndicate 2015, SCOR SE’s corporate syndicate at Lloyd’s of London, allowing the FinTech to guarantee its merchants 100% of their payments, even when the buyer is unable to pay. The funding will also be used to develop new BNPL solutions for telesales and in-store purchases and see Hokodo venture into new verticals currently underserved by payments companies.

Louis Carbonnier, co-founder and co-CEO at Hokodo, said: “The B2B purchasing experience has long lagged behind its B2C counterpart, and business customers are calling for higher quality services as online sales continue to gain ground in B2B. Hokodo provides merchants with a truly real-time credit solution at checkout, driving up conversion rates and enabling all parties to buy, sell and do more. Hokodo is currently the only pan-European Buy Now, Pay Later provider in B2B, and this funding will allow us to continue our international expansion to enable 1 million businesses to access a better way to pay by 2025.”

Previous Article

June 23, 2022

Adyen and McDonald’s expand mobile app partnership to the U.S.

Read More
Next Article

June 23, 2022

ICICI Bank launches a digital platform for the student ecosystem

Read More







Advertise with us



IBSi Daily News Analysis

Monday

June 27, 2022

B2B

The Monday Roundup: what we are watching this week | June 27th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 27, 2022

Lokyata announces Systems Integration with Infinity Software

Read More

June 27, 2022

NeoGrowth launches Accelerator business loan offering

Read More

June 27, 2022

Sanadcom Business Finance signs agreement and Network International – Jordan

Read More

Related Reports

Sales League Table Report 2022

£ 1,500.00 / year

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022