Hokodo, a digital trade credit provider, has announced that it will use Talaria, the digital trade finance platform of Munich Re, to expand its reach into new European markets.
By leveraging Talaria’s credit underwriting algorithms and financing capabilities, Hokodo will broaden its solutions across Europe, enabling B2B merchants and marketplaces to offer instant, flexible payment terms to business buyers in nearly every European country.
Richard Thornton, Co-founder and President of Hokodo, said, “Last year we announced that Hokodo had become an EMI and was the first digital trade credit provider to be able to offer its solutions across the EU. But that’s only part of the story.”
He added, “Since then, we have been hard at work making that a reality. Choosing the Talaria solution was a no-brainer since Talaria, like Hokodo, is specifically designed to meet the needs of B2B merchants. This also allows us to leverage Munich Re’s extensive experience in risk assessment and management whilst seamlessly integrating with Talaria’s customisable API.“
B2B buyers and sellers are already benefiting from Talaria, with customers from an agrifood marketplace being the first to receive payment terms and credit limits based on Talaria’s underwriting. More online merchants are expected to follow.
Johannes Thanner, Head of Digital Trade Finance at Munich Re, noted, “Through Talaria Finance, we are introducing an all-in-one solution on a transactional level for digital savvy originators such as Hokodo. They can now directly communicate with our Talaria Finance API on a real-time basis and secure coverage instantly instead of navigating complex relationships with both funders and insurers.”
He added, “Ultimately this not only empowers marketplaces and sellers to meet market expectations in order to scale their operations but also supports especially SME buyers, an underserved yet vital segment of the economy.”
