Pan-European digital trade credit provider Hokodo has today announced a new £8.5m equity fundraising round co-led by Korelya Capital and Opera Tech Ventures (the corporate venture fund of global bank BNP Paribas). Two of Hokodo's Series B investors – Mundi Ventures and Notion Capital – also participated in the round.
This new cash injection will allow Hokodo to continue developing innovative digital trade credit solutions, onboard new merchants and leverage AI to further digitise the credit management value chain.
Tapping into the growing buyer demand for omnichannel experiences in B2B, recent months have seen Hokodo develop a suite of new products and features tailored to sales channels beyond e-commerce.
The new funding will support Hokodo as it rolls out a new in-store solution to offline and omnichannel merchants across Europe, starting with French professional supplies merchant RÉTIF and with more customer announcements scheduled for the coming weeks.
The equity raise will also be used to increase the team's operational capacity, ensuring fast and efficient integrations for the growing number of new clients that Hokodo onboards each month.
Since 2018, Hokodo has established itself as a leading player in the digital trade credit or so-called 'B2B BNPL' space, and was the first business of its kind to become regulated as an EMI.
