“Can a European B2B BNPL provider win checkout-embedded trade credit before incumbents or working-capital lenders consolidate the market?”
Founded 2018 in London/Paris as a B2B Buy Now, Pay Later provider offering real-time digital trade credit at checkout for European merchants. Expanded across six European markets (UK, France, Germany, etc.) on the back of Series B funding in 2022 and a €100M Viola Credit debt facility in 2024. Despite scaling, the business closed down in April 2026; founders rolled into Liquidity Lab, an AI consulting firm focused on B2B trade credit and cash flow.
Hokodo processes payments through Hokodo Digital Trade Credit (self-operated) and Hokodo Pay Now (self-operated).
Hokodo's lending and capital products are provided by Hokodo (in-house).
Hokodo integrates with Adobe Commerce (Magento), SparkLayer and E-commerce plugins.
The Embedded Finance Index 2026 maps 3 layers in Hokodo's stack: Payments / PSP (Hokodo Digital Trade Credit (self-operated) and Hokodo Pay Now (self-operated)); Lending (Hokodo (in-house), B2B Buy Now Pay Later, Digital Trade Credit, Instant Trade Accounts and 1 other); Accounting (Adobe Commerce (Magento), SparkLayer and E-commerce plugins).
Hokodo was founded by Louis Carbonnier, Richard Thornton and Sami Ben Hatit and is founded in 2018, headquartered in London, UK (with Paris office).
Hokodo has raised Undisclosed (>$40M equity + €100M debt) in total (latest round: Series B, 2022).
Get a read on where your own stack stands against Hokodo and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.