UK-based Buy Now, Pay Later solution Hokodo has received a Series B funding extension from financial services provider Citi to support the former’s expansion. This cash injection will support Hokodo’s ambition to grow and enter new geographic regions.

The B2B payments scaleup has already entered 6 European markets, including the UK, France, Spain, Germany, Belgium, and the Netherlands, with plans of further expansion. Offering financing solutions to more customers Company officials said that they’ve recently launched a range of new functionalities enhancing buyer ability to pay on an immediate or deferred basis, plus the option for merchants to top up credit limits for their buyers. With this new investment, they’re going to continue working with their customer feedback to develop the comprehensive payment solution that their merchant partners and their buyers need to grow and thrive.

Ultimately, this funding means that a greater number of businesses across Europe will be able to access financing without impacting the working capital or operational capacity of sellers. Hokodo in more news The above-mentioned funding is an extension to the Series B round announced by Hokodo in June 2020. Then, Hokodo raised USD 40 million for the development of new BNPL solutions and bring those solutions to more customers.

Continuing in its mission, in March 2023, Hokodo formed a partnership with France-based international banking group BNP Paribas to launch a BNPL solution for B2B commerce businesses. The B2B BNPL solution provides a fully digital experience and can be integrated into existing checkout systems via API in an easy manner. It helps provide instant buyer approval through a real-time credit decision process and an extensive acceptance rate due to the increasingly configurable models, which can be adapted to the activity and client typology of the B2B seller.

The full service includes proprietary credit decisioning, transaction financing, credit and fraud insurance, collection through an e-mandate and dunning, and different financing options to better fit merchants’ needs. .