The global B2B payments provider, Hokodo, has disclosed its intention to establish a payment operations center in Lithuania. This move follows the recent acquisition of H Pay & Go, a payments startup based in Vilnius. In line with this, the company is gearing up to open a new branch to augment its existing offices in Paris and London. Over the next few years, Hokodo plans to recruit 30 personnel in Lithuania, comprising credit analysts, payment operations specialists, customer support staff, software engineers, debt collection managers, and financial experts.

Headquartered in Paris and London, Hokodo offers an all-encompassing, scalable B2B payment solution, inclusive of trade credit and upfront payment alternatives. Hokodo's services empower European companies to pursue growth objectives unimpeded by operational inefficiencies, obsolete payment methods, and limitations on working capital. Launched in 2018, Hokodo has seen swift expansion into major European markets, currently catering to clients in the UK, France, Germany, Belgium, the Netherlands, and Spain.

The forthcoming Lithuanian hub of the company is slated to initially service Hokodo’s clients in Central European, Nordic, and Baltic regions, with potential plans to extend coverage to all EEA markets in the future.

With the acquisition of H Pay & Go, a holder of the Electronic Money Institution (EMI) license from the Bank of Lithuania, Hokodo has become the first and presently the only B2B Buy Now, Pay Later provider possessing a payments license. This acquisition will aid the company in realizing its ambition of equipping 1 million businesses with sophisticated payment solutions.

In order to fulfill this objective by 2025, Hokodo was in search of a suitable location to house a regulated payments enterprise.