B2B buy now, pay later app Hokodo raises €10 million
Summary
Richard Thornton, co-founder and president of Hokodo, says: Despite a significant shift to e-commerce in B2B, the reality is that many industries are still driven by personal relationships and traditional sales processes. But transactions that take place offline can benefit from digital trade credit just as much as those on e-commerce sites and online platforms. Hokdo secured a deal with BNP Paribas in March 2023 to incorporate the BNPL app into its factoring operations for multinational merchants. By co-leading this round we are showing just how much we believe in Hokodos potential to revolutionise the B2B payments space with digital trade credit, states Vincent Baillin, co-head at BNPs Opera Tech Ventures. The app is integrated with existing checkout systems and provides instant buyer approval through a real-time credit decision process.