Hokodo, described as Europe’s premier digital payment terms provider, has successfully secured a significant debt facility.
This London-based FinTech company, established in 2018, is at the forefront of offering innovative payment solutions designed to streamline B2B transactions across the UK and the EU.
The company announced a new €100m debt facility, sourced from Viola Credit, a global credit investment manager with a focus on the innovation economy. This strategic financial injection is poised to facilitate over €1.5bn worth of B2B transactions throughout Europe over the next two years. Viola Credit’s support underscores the potential and the pivotal role Hokodo plays in the B2B payment landscape.
At its core, Hokodo provides a vital service by enabling B2B buyers to access deferred payment options, such as paying 30, 60, or 90 days post-purchase or at the end of the following month. This flexibility is further enhanced by Hokodo’s recent introductions of ‘Pay in Instalments’ and ‘Pay Now’ features, offering B2B merchants a comprehensive suite of payment solutions tailored to their needs.
The funding will primarily support the further development and expansion of Hokodo’s Pay Later and Pay Now offerings. These services are crucial for B2B merchants and marketplaces, offering them a competitive edge by providing their customers with flexible payment options at the checkout. Such initiatives are not only aimed at easing cash flow challenges but also at fostering growth and development on both ends of the transaction.
Hokodo VP of Finance Aman Mehra stated, “To date, Hokodo has processed payments for more than 50,000 business buyers and forged industry-defining partnerships with institutions such as BNP Paribas, Citi and SCOR.
“With this new credit facility, and by partnering with a reputable global credit fund, we’re able to continue our work supporting the B2B economy, making payment terms safer, simpler and more sustainable for buyers and sellers of all shapes and sizes.”
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
