What Hokodo does

Hokodo was a London-headquartered B2B Buy Now, Pay Later and digital trade credit provider, founded in 2017 and operating across the UK and EU before ceasing operations in November 2025. The company built an end-to-end platform that digitised the B2B order-to-cash cycle, covering credit scoring, insurance, collections, fraud protection, and buyer financing in a single integrated stack, with a proprietary instant credit decisioning engine capable of approving first-time B2B buyers at checkout. Products were modular and packaged as 30/60/90-day payment terms, instalment payments, digital trade accounts with consolidated invoicing, and a combined Pay Now & Pay Later checkout, delivered via REST API, hosted checkout, or a merchant dashboard and supported across e-commerce, in-store, and telesales channels.

Hokodo served B2B merchants and marketplaces across nine verticals (B2B marketplaces, food and beverage, agriculture, industrial supplies, construction and building materials, freight and logistics, corporate travel, automotive, and pharmaceuticals), with named customers including Ankorstore, Achatmat, Yardlink, Monin, Sellar, RETIF, Vice Golf, and Maison and Objet. The company was regulated in multiple jurisdictions through Hokodo Services Limited (FCA-authorised, UK), Hokodo SAS (ORIAS-registered insurance intermediary, France), and UAB Hokodo (Bank of Lithuania Electronic Money Institution), which together allowed it to underwrite credit and intermediate insurance across Europe.

The business monetised through per-transaction fees on B2B payments (a take-rate model with bespoke quotes per merchant profile), supplemented by credit risk fees. Distribution combined direct enterprise sales, an API-first product-led motion for marketplaces, and embedded-finance partnerships with BNP Paribas, Lemonway, and Munich Re's Talaria reinsurance platform. Over eight years Hokodo financed more than €500M in purchases for over 100,000 business buyers, raised over €50M in equity (Series A $12.5M led by Mosaic Ventures in 2021, Series B $40M led by Notion Capital in 2022 with a Citi extension in 2023, and a €10M round in April 2025) and secured a €100M debt facility from Viola Credit in April 2024. Despite the technology stack and partner roster, the founders publicly attributed the November 2025 shutdown to narrow product focus, excessive complexity, premature scaling, and capital mismanagement during the post-2022 fintech funding contraction.

Name

Hokodo

Legal name

Hokodo Services Limited

Website

https://hokodo.co

Company type

Private

Founded year

2017

Operating status

Closed

Headcount range

51–100 employees

Short description

Hokodo was a London-based B2B Buy Now, Pay Later and digital trade credit provider serving European merchants and marketplaces across nine verticals, having financed over €500M for 100,000+ business buyers before ceasing operations in November 2025.

Ownership category

akta.pro rank

Product category

Digital Trade Credit / B2B BNPL

NAICS

Sales Financing (52222)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC)

akta.pro secondary industries

Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), International / Cross-Border BNPL & Multi-Currency POS Financing (FSAGAIAN)

Keywords

• B2B buy now pay later
• Digital trade credit
• Trade account platform
• B2B payment terms
• Embedded trade finance

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain, Others

Revenue model

1. Transaction / Take Rate Fees: Hokodo earns a fee on each B2B transaction processed through its platform. Merchants receive immediate full payment while buyers access flexible deferred payment terms (14, 30, 45, 60, 90 days or end of month). The company handles all credit risk, collections, and buyer financing.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Hokodo provides a B2B Buy Now, Pay Later and digital trade credit platform that lets merchants offer flexible payment terms (14, 30, 45, 60, 90 days or end of month) to business buyers across e-commerce, in-store, and telesales channels. The platform delivers instant credit decisions, full credit and fraud risk protection for merchants, automated collections, insurance, and financing as a single integrated API and hosted checkout solution targeted at B2B merchants and marketplaces across Europe.

Product overview

Hokodo offers a modular B2B Buy Now Pay Later platform providing instant trade accounts and digital trade credit solutions. The core product portfolio includes 30/60/90-day payment terms, instalment payment options, trade accounts with consolidated invoicing, and combined Pay Now & Pay Later checkout. All solutions are delivered through a unified platform covering credit scoring, insurance, collections, fraud protection, and financing, with a merchant dashboard for managing orders and credit limits.

Differentiator

Problem solved

Functional benefit

Products and services

• 30, 60 and 90 Days Payment Terms Classic B2B payment method offering deferred payment options of 30, 60, or 90 days, reimagined for modern online and offline transactions with instant credit decisions, delivered to B2B merchants and their business buyers.
• Instalment Payments Payment solution allowing B2B buyers to split large orders across several monthly or bi-weekly instalments, enabling flexible financing for business purchases.
• Trade Account Digital trade account solution providing one consolidated invoice per billing period, streamlining B2B payment administration and improving cash flow management for merchants and their buyers.
• Pay Now & Pay Later Combined payment solution offering both immediate and deferred payment options in a single checkout, covering upfront payers and buyers needing credit terms across B2B commerce channels.
• B2B Buy Now, Pay Later End-to-end B2B BNPL platform providing a B2C-like checkout experience with deferred payment options for business purchases, featuring instant credit decisions, fraud protection, and 100% credit risk coverage for merchants.
• Digital Trade Credit Platform Comprehensive digital trade credit platform covering credit scoring, insurance, collections, fraud protection, and financing in a single integrated solution for B2B merchants across Europe, integrating via API or hosted checkout.

Quantifiable outcome

• 40% increase in conversion rate for merchants offering Hokodo payment terms
• +5 more outcomes

Named customers12 records

Segments9 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered flagship and core.

• BNP ParibasflagshipStrategic or Co-development Partner · 26 March 2025BNP Paribas and Hokodo teamed up to launch a new B2B BNPL offering, embedding Hokodo's digital trade credit technology into BNP Paribas's commercial banking ecosystem. This flagship partnership brings Hokodo's instant payment terms and trade credit capabilities to BNP Paribas's extensive corporate client base across Europe.
• LemonwaycoreStrategic or Co-development Partner · 1 January 2025Hokodo partnered with Lemonway as part of the B2B Marketplace Hub initiative. Lemonway is a pan-European payment institution dedicated to marketplaces, alternative finance platforms, and companies requiring payment processing, wallet management, and third-party payments within a KYC/AML regulated framework. Its payment solution is trusted by over 1,400 marketplaces in Europe including 200 crowdfunding platforms.
• Munich Re (Talaria)coreTechnology or Integration · 19 November 2024Hokodo uses Munich Re's Talaria platform to support geographical expansion. Munich Re is one of the world's leading reinsurers, and the Talaria solution enables Hokodo to leverage reinsurance capacity for credit risk protection as it expands into new European markets.
• BalancecoreStrategic or Co-development Partner · 15 November 2023Hokodo and Balance co-published a research report 'Unlocking the Future of Global Payment Terms' surveying 200+ merchants in the UK, France, Germany, and the US on cross-border payment terms challenges. The partnership explored how B2B sellers can overcome challenges of offering global payment terms through joint research and a co-hosted webinar.

Scale indicators8 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• C2FO: C2FO operates the world's largest B2B working capital marketplace, allowing suppliers to get early payment on receivables at market-based rates. It competes with Hokodo on trade credit and short-term business financing, though via a marketplace model.
• Mondu: Mondu is a Berlin-headquartered B2B BNPL provider offering embedded checkout financing for European merchants and marketplaces. It directly overlaps Hokodo on geographic focus (DACH/EU), merchant segment, and product (BNPL at B2B checkout).
• Kanmon: Kanmon is an embedded B2B trade credit platform enabling marketplaces and SaaS platforms to offer net terms to their business buyers. It is a direct competitor in the API-first, marketplace-embedded segment Hokodo targeted.
• Behalf: Behalf is a B2B BNPL provider offering short-term financing for business purchases, typically in partnership with merchant platforms. It competes directly with Hokodo on merchant-integrated trade credit at checkout.
• TreviPay: TreviPay is the largest dedicated B2B BNPL and trade credit platform, serving enterprise buyers and suppliers globally. It is the most direct competitor to Hokodo in delivering invoice-based, merchant-integrated B2B payment terms.
• Resolve Pay: Resolve Pay provides B2B BNPL for distributors and wholesalers in verticalised trade credit. It targets similar mid-market merchants to Hokodo (industrial supplies, building materials) with embedded payment terms.
• Balance: Balance is a B2B payments and BNPL platform offering net-terms financing for buyers and instant payment to suppliers. Hokodo partnered with Balance on cross-border payment-terms research, indicating close product overlap in the B2B trade credit category.
• Apruve: Apruve delivers B2B trade credit automation, including credit decisions, invoicing, and collections, targeting mid-market and enterprise merchants. The product overlaps directly with Hokodo's end-to-end digital trade credit stack.

Broad incumbents

• Billtrust: Billtrust is a broader B2B accounts-receivable automation and order-to-cash platform serving mid-market and enterprise customers. Its order-to-cash scope overlaps Hokodo's digital trade credit platform, though Billtrust is a larger incumbent selling into finance teams rather than checkout.
• Versapay: Versapay is a B2B payments and accounts-receivable automation provider with embedded financing capabilities. It competes indirectly with Hokodo on B2B buyer-seller payment flows and credit decisioning for mid-market merchants in North America and Europe.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/hokodotech
• LinkedInlinkedin.com/company/hokodo

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds7 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hokodo