SCOR-backed insurtech Hokodo launches in France

Insurtech start-up Hokodo has launched in France and partnered with accounting platform Cegid to help protect SMEs against non-payment.

Hokodo serves B2B marketplaces and accounting platforms with small business insurance via easy-to-integrate APIs (application programming interface). The company raised €1.9 million in its seed funding in 2018, and partnered with SCOR Global P&C for its launch product, an invoice protection solution insuring small and medium-sized business owners against the risk that their customers fail to pay an invoice when it falls due.

Louis Carbonnier, co-founder and co-CEO of Hokodo, said: “Each year, hundreds of thousands of European businesses fail as a result of late or non-payment of invoices. Credit insurance solutions to tackle these issues do exist, but they have effectively excluded smaller businesses.

"Hokodo’s mission is to make financial services accessible to everyone, regardless of size. SMEs are the backbone of the French economy, so we are thrilled to launch our business on the French market. We aim to protect 20,000 French businesses before the end of the year.”

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