Hokodo, a London, UK based digital trade credit provider, raised $40m in Series B funding.
The round was led by Notion Capital, with participation from Korelya Capital, Mundi Ventures, Opera Tech Ventures, Anthemis and Mosaic Ventures.
The company intends to use the funds for its expansion into new European markets and the development of BNPL solutions for telesales and in-store purchases.
Led by Louis Carbonnier, and Richard Thornton, Hokodo provides Buy Now, Pay Later solutions to the B2B market, enabling business customers to benefit from instant, interest-free payment terms. A leader in the field in the UK, the company is currently expanding into continental Europe, and working on the creation of new products devised to serve the B2B market.
With new merchants recently onboarded in France (Paris Fashion Shops) and Spain (Katoo), following launches in Belgium and the Netherlands (Ankorstore) earlier this year, a portion of the new funding will see the company expand its efforts to become the B2B BNPL category leader in continental Europe.