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 European markets.
Buy now, pay later has been one of the fintech areas that received a lot of attention—and funding—in recent years. Επιβεβαιώνουμε went public last year, Αργία πληρωμή was acquired for $XNUMX billion, and Klarna reached a $XNUMX billion valuation. But most BNPL companies have focused on getting consumers to use their services for payment installments.
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“The BXNUMXB purchasing experience has long lagged behind its BXNUMXC counterpart, and business customers are calling for higher quality services as online sales continue to gain ground in BXNUMXB,” Hokodo co-CEO Λουί Καρμπονιέ είπε σε μια δήλωση. “Hokodo 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.”
Fintech’s ups and downs
Fintech has been a hot sector in terms of funding and valuations for a while, but it’s also been hit hard by the recent turmoil in the public markets. The sector saw several companies initiate layoffs this year, according to a Crunchbase News analysis.
Klarna, for example, announced plans to lay off XNUMX% of its workforce last month. Most recently the company was reportedly in talks to raise money at a valuation of around $XNUMX billion, significantly less than its last valuation of $XNUMX billion.
Hokodo last raised a Series A round of about $XNUMX million in June XNUMX, according to Crunchbase. Investors in the company include μωσαϊκό, Korelya Capital και Opera Tech Ventures. It first raised a seed round in October XNUMX, according to Crunchbase.
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