A conversation with Louis Carbonnier, Co-Founder and Co-CEO of Hokodo: B2B Buy Now Pay Later For E-Commerce

Hokodo was founded in 2018 to bring B2B commerce up to date with simple, fast and secure payment solutions. The founders of Hokodo, Richard, Sami and I started this journey to support the growth of merchants and marketplaces through our Buy Now, Pay Later solution specifically designed for B2B commerce. With Hokodo, B2B companies can focus on expansion and forget the dangers of offering trade credit online

The Hokodo system enables merchants to offer payments instantly online and helps small business buyers access the payment terms they need and want.

We’re excited about Hokodo because it makes B2B commerce easy, fair, and accessible not only for sellers but also for buyers.

Fintech Hokodo Raises $12.5M in Series A Funding Enabling B2B Merchants to Offer Instant Payment Terms and Scale with Confidence | business wire

How did you come up with the idea for Hokodo?

Before founding Hokodo, co-founders Richard and I worked together in embedded finance, helping top-tier banks and insurance companies sell financial services.

After working in embedded finance, I started at a company called Euler Hermes (recently renamed Allianz Trade), the world’s leading provider of trade credit and unpaid bill insurance. My work here has allowed me to identify two major flaws in credit support.

First, the complex nature of credit support means it is largely accessible to companies with sophisticated finance departments, rather than to SMEs who need it most. The SMEs that need this protection do not have access to this product and this opened my eyes to this gap in the market.

Second, this product was designed for the offline world that we no longer live in. The product’s 48-hour cycle is not helpful for e-commerce merchants and participants who need real-time solutions to their problems.

After my initial enthusiasm for this opportunity, Sami joined me to prototype some BNPL APIs. Then I caught up with Richard, who was getting fed up with corporate life and couldn’t believe what a niche in the market Hokodo could fill. After searching Google for days to see if something like this had already been invented, we decided we’d be the first. With Sami and Richard on board, the Hokodo team took shape.

How has Hokodo evolved in recent years?

We originally planned to set up an invoice insurance company that would make trade credit insurance accessible to SME companies that were excluded from traditional trade finance instruments. We have developed a real-time credit decision engine to embed credit insurance into various environments such as accounting software, invoice packages and B2B marketplaces.

The latter use case was the most successful, attracting the highest adoption rates from SMBs. At that point, we knew we had developed a solution that small and medium-sized businesses really needed when doing business with each other online. As we found out more about our users’ needs, there was a pretty big evolution in our messaging as we transitioned from invoice insurance to our current B2B “buy now, pay later” solution. Essentially, we realized that our customers don’t wake up looking for credit insurance – they need to offer credit terms when selling online.

The other key area of ​​development has simply been the sheer growth of our team, particularly over the last 6-12 months. In 2021, the Hokodo team grew by 140%, and since the beginning of this year, the number of employees has already continued to grow. This growth was ultimately fueled by demand for our B2B BNPL product and we are all very pleased that this is continuing into Q2 2022.

What can we expect from Hokodo in the future?

We are currently in the final stages of overhauling our brand identity, so in the short term it won’t be long before we start sharing our new look and feel with the world. We’re very happy with how it’s turning out and can’t wait to bring it to market.

Our mission at Hokodo is to give 1 million businesses access to a better payment method by 2025, so we will be focused on that mission in the medium term until we achieve it. We like to envision a world where every business has access to the financial tools it needs to buy, sell and do more. On a more abstract and long-term level, we hope the future holds this, and we see Hokodo as a catalyst for that.

https://techround.co.uk/interviews/louis-carbonnier-hokodo/?utm_source=rss&utm_medium=rss&utm_campaign=louis-carbonnier-hokodo A conversation with Louis Carbonnier, Co-Founder and Co-CEO of Hokodo: B2B Buy Now Pay Later For E-Commerce

Fry Electronics Team

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