Hokodo raises USD 40 mln Series B

Thursday 23 June 2022 13:06 CET | News

UK-based fintech Hokodo has completed its Series V funding round, securing USD 40 million to support the expansion into new European markets.

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.

Company officials explained that they meet B2B merchants requirements through, credit scoring, fraud detection, payments, collections, financing, and credit insurance. They don’t rely on any third party to make credit decisions because it’s quicker in-house. This means they can accept more buyers at a faster rate.

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.

With new merchants recently onboarded in France (Paris Fashion Shops) and Spain (Katoo), following launches in Belgium and the Netherlands (Ankorstore) earlier in 2022, a portion of the new funding will see the brand double down its efforts to become a major player in the B2B BNPL category of continental Europe.

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Keywords: BNPL, funding, expansion, merchant
Categories: Payments & Commerce
Companies: Hokodo
Countries: Europe, United Kingdom
This article is part of category

Payments & Commerce


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