Hokodo receives EUR 100 million debt facility

Monday 8 April 2024 15:45 CET | News

UK-based B2B Buy Now, Pay Later (BNPL) solution provider Hokodo has announced that it secured a EUR 100 million debt facility from Viola Credit to support B2B transactions.

As per the information detailed in the press release, Hokodo received a EUR 100 million debt facility from Viola Credit, a credit investment manager which focuses on assisting the expansion of the innovation economy. As a global credit investment manager, Viola Credit offers credit solutions to worldwide technology companies, including fintech, proptech, and insurtech organisations that intend to disrupt traditional financial markets. With the newly acquired funds, Hokodo plans to facilitate nearly EUR 1.5 billion of B2B transactions over the next 24 months.

UK-based B2B Buy Now, Pay Later (BNPL) solution provider Hokodo has announced that it secured a EUR 100 million debt facility from Viola Credit to support B2B transactions.

Hokodo’s development strategy

By providing a scalable, all-in-one payment solution for B2B, Hokodo aims to enable merchants, marketplaces, and other suppliers to accelerate growth without being interrupted by operational difficulties, outdated payment processes, or working capital constraints. The debt facility received from Viola Credit is set to support the continued introduction and expansion of Hokodo’s Embedded Pay Later and Pay Now offering for B2B merchants and marketplaces. Currently, Hokodo administrates every element of the trade credit management process, allowing merchants to focus their resources on customer acquisition and retention, product development, and other growth capabilities. The company provides buyers with instant access to flexible payment terms at checkout, with it being committed to mitigating cash flow issues and aiding the improvement of businesses on both sides of the transaction.

According to Hokodo’s officials, the company processed payments for more than 50,000 business buyers and entered partnerships with institutions, including BNP Paribas, Citi, and SCOR. The additional credit facility merged with partnering with Viola Credit, aims to enable the company to continue its work in supporting the B2B economy and making payment terms safer, more efficient, and more sustainable for buyers and sellers of all shapes and sizes. The announcement follows Hokodo’s recent collaboration with Balance, as well as its acquisition of a Lithuania-based payment business in 2023. Both moves aimed to assist the company in rapidly expanding its operations across Europe and North America.

Furthermore, representatives from Viola Credit underlined that, since its launch, Hokodo has been providing digital trade credit, delivering access to simplified financing options to small and medium-sized enterprises (SMEs) for purchases, thus helping merchants grow their customer base. The credit investment manager expressed enthusiasm over the extension of its collaboration with Hokodo, underscoring the additional financing capacity that aims to support the company in advancing its operations across Europe.

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Keywords: debt facility, funding, B2B payments, online payments, merchant, marketplace, BNPL
Categories: Payments & Commerce
Companies: Hokodo, Viola
Countries: Europe
This article is part of category

Payments & Commerce




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