萝莉视频

London-based BNPL startup has raised $40 million in a -led Series B round, the company announced Monday.

Hokodo, which focuses on BNPL services for businesses, will use the funding for its expansion and product development, according to a press release. Hokodo operates in six 萝莉视频 markets.

Buy now, pay later has been one of the fintech areas that received a lot of attention鈥攁nd funding鈥攊n recent years. went public last year, was acquired for $29 billion, and reached a $45.6 billion valuation. But most BNPL companies have focused on getting consumers to use their services for payment installments.

鈥淭he B2B purchasing experience has long lagged behind its B2C counterpart, and business customers are calling for higher quality services as online sales continue to gain ground in B2B,鈥� Hokodo co-CEO 鈥淗okodo provides merchants with a truly real-time credit solution at checkout, driving up conversion rates and enabling all parties to buy, sell and do more.鈥�

Fintech鈥檚 ups and downs

Fintech has been a hot sector in terms of funding and valuations for a while, but it鈥檚 also been hit hard by the recent turmoil in the public markets. The sector saw several companies initiate layoffs this year, according to a 萝莉视频 News analysis.听

Klarna, for example, announced plans to lay off 10% of its workforce last month. Most recently the company was reportedly in talks to raise money at a valuation of around $15 billion, significantly less than its last valuation of $45.6 billion.

Hokodo last raised a Series A round of about $10.8 million in June 2021, according to 萝莉视频. Investors in the company include , and It first raised a seed round in October 2018, according to 萝莉视频.

Related reading:

• 听Klarna Reportedly Looks To Raise Money At Much Lower Valuation
• Affirm鈥檚 IPO Filing Reveals Nearly A Third Of Its Revenue Comes From A Single Customer
• BNPL Companies Face New Challenges As Incumbents Enter The Ring, Big Customers Shift Business Models

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