Hokodo, a London, UK- and Paris, France-based B2B Buy Now Pay Later provider, raised $12.5m in Series A funding.
The round was led by Mosaic Ventures with participation from Anthemis, Notion Capital and angel investors including Taavet Hinrikus, founder of TransferWise (now Wise), Thijn Lamers, former EVP, Global Sales of Adyen, Max Bittner, CEO of Vestiaire Collective and founder of Lazada and Rich Laxer, ex-Chairman and CEO of GE Capital.
The company intends to use the funds to further develop its proprietary digital credit technology and extend its services across Europe, supporting the growth of the $12TN B2B commerce space
Founded in 2018 by Richard Thornton, Louis Carbonnier and Sami Ben Hatit, Hokodo provides B2B merchants with real-time trade credit solutions. With Hokodo, merchants can offer instant payment terms to their customers through a B2C-like “Buy Now Pay Later” checkout experience. The solution integrates via APIs into existing e-commerce platforms and marketplaces. The company automates the whole order-to-cash cycle, from credit checks to collections and working capital finance, while protecting merchants against non-payments.
Hokodo’s solutions are backed by Lloyd’s of London via the Channel Syndicate, a unit of SCOR SE.