Hokodo Secures €10M to Accelerate B2B Credit Solutions Expansion Across Europe
Hokodo, a leading European provider of digital trade credit solutions for B2B transactions, has successfully secured €10 million in equity funding. This investment aims to accelerate the company’s growth and enhance its product development efforts, positioning Hokodo as a pioneering force in the B2B BNPL (Buy Now, Pay Later) landscape.
Funding Round Details
The recent investment round was co-led by Korelya Capital, a prominent French venture capital firm, and Opera Tech Ventures, the corporate venture capital arm of BNP Paribas. Notable participation also came from existing Series B investors, including Mundi Ventures and Notion Capital. This funding marks a significant milestone for Hokodo, which was founded in 2018.
Innovative Solutions for B2B Transactions
Hokodo has established itself as a key player in the digital trade credit sector, offering services that simplify and secure B2B payments. The company claims to be the first in its field to be regulated as an electronic money institution (EMI), ensuring compliance and trust in its operations.
Plans for Product Development and Expansion
The newly obtained funds will be strategically allocated towards:
- Product Innovation: Enhancing existing products and developing new solutions tailored to the evolving needs of businesses.
- Operational Scaling: Increasing capacity to support a growing customer base.
- Omnichannel Solutions: Expanding the suite of tools for both online and offline sales environments.
Strategic Partnerships and Market Expansion
Hokodo’s first deployment of its in-store offerings will be with RÉTIF, a French professional supplies merchant. The company plans to announce additional partnerships soon, further extending its reach in Europe.
Insights from Leadership
Richard Thornton, co-founder and president of Hokodo, emphasized the importance of adapting to traditional sales processes in many industries, stating, “Despite a significant shift to e-commerce in B2B, many industries still rely on personal relationships and traditional sales processes. Offline transactions can benefit from digital trade credit just as much as those on online platforms.”
Thornton expressed confidence in Hokodo’s mission to provide safer, simpler payment solutions for all B2B businesses, highlighting the crucial support from partners and investors who understand the challenges the company addresses.
Investor Perspective
Franco Danesi, a partner at Korelya Capital, commented on Hokodo’s rapid expansion: “Since Hokodo’s Series B fundraise, they have expanded rapidly across Europe, fulfilling their ambition to become the first truly pan-European digital trade credit provider. We’re thrilled to see Hokodo go from strength to strength, even in challenging market conditions.”
For more information about Hokodo and its innovative solutions, visit their official website at Hokodo. To learn about the future of digital trade credit in the B2B sector, check out this insightful article on Forbes.
