Hokodo
Also a provider — view Hokodo’s profile →“Can a European B2B BNPL provider win checkout-embedded trade credit before incumbents or working-capital lenders consolidate the market?”
Founded2018
HQLondon, UK (with Paris office)
FoundersLouis Carbonnier, Richard Thornton, Sami Ben Hatit
Total raisedUndisclosed (>$40M equity + €100M debt)
Latest roundSeries B, 2022
IndustryFintech / Lending
The story
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.
Last 12 months
Product timeline
2018
Founded by Louis Carbonnier, Richard Thornton, and Sami Ben Hatit to offer real-time B2B trade credit· pivot
2021
Series A funding· banking
2022
Raised $40M Series B led by Notion Capital to expand across Europe· banking
2024
Secured €100M debt facility from Viola Credit to power €1.5bn in B2B transactions· lending
2026
Hokodo ceased trading; founders launched new venture Liquidity Lab· pivot
Regulated entities
1
regulatory licence held by Hokodo
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
In the press
embeddedfinancereview.com ↗Coverage sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
The stack
3 layers disclosed in Hokodo’s embedded-finance stack
Payments / PSP
Hokodo Digital Trade Credit (self-operated)Hokodo Pay Now (self-operated)
Lending
in the full report
Accounting
in the full report
Accounting gap: minor
8 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.