Hokodo

Lending & Financing

European B2B BNPL with FCA + EU EMI licenses, in-house credit, and Lloyd's of London insurance backing.

Overview

Hokodo was a London-based B2B Buy Now Pay Later platform, founded in 2018 by Richard Thornton, Sami Ben Hatit, and Louis Carbonnier. Hokodo offered checkout-integrated buyer credit (Net 30/60/90 and installments) for European B2B marketplaces and merchants. The company differentiated through its full UK FCA authorization and a complete EU EMI license (acquired via a Lithuanian payments business in 2023) — the first B2B BNPL provider to hold both. Hokodo handled all KYB, credit underwriting in real time, and money movement, with credit and fraud risk backed by Lloyd's of London (Channel Syndicate / SCOR P&C). IMPORTANT STATUS NOTE: Hokodo ceased operations in late 2025, with its final transaction processed in November 2025. The founders launched a new venture called Liquidity Lab. As of mid-2026, Hokodo is a historical reference rather than an active vendor. The data points below reflect the company at its peak operating state and are retained for historical context. At peak, Hokodo raised total funding of approximately $177M including a $40M Series B (June 2022, Notion Capital lead), a Citi extension (April 2023), a €10M equity round (April 2025), and a €100M debt facility from Viola Credit (April 2024). Notable customers included ManoMano (the home improvement marketplace) and RÉTIF (an in-store launch partner, May 2025). The integration model spanned API, white-label, and managed service for B2B marketplace platforms.

Key features

• B2B Net 30/60/90 and installments
• UK FCA authorization + EU EMI license
• Real-time KYB and credit underwriting
• Lloyd's of London credit/fraud insurance
• API + white-label + managed service
• First B2B BNPL with full EU EMI license