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6 top Hokodo alternatives for B2B marketplaces: A detailed guide

Compare 6 Hokodo alternatives for B2B marketplaces, from B2B BNPL to invoice financing solutions, so that you can pay sellers faster without increasing risk.

4 min read

January 7, 2026

If you’re a B2B marketplace searching for Hokodo alternatives, chances are you’re looking for a solution that helps you:

Offer flexible payment options to buyers
Pay sellers faster without increasing your risk
Keep users and their transactions on your platform

Hokodo helped bridge that gap for many, but with the news of it shutting down, you’re probably looking for a reliable solution that can match or even improve on its BNPL capabilities.

In this guide, we’ll explore six Hokodo alternatives – including solutions for embedded invoice financing and B2B BNPL – so you can find the best fit for your marketplace.

Want to see how embedded invoice financing works with Aria straight away? Book a quick demo.

Hokodo ceases operations: what you need to know

The fintech company Hokodo has ceased its services as of November 2025.¹ A reduced team will be in place until March 2026 to support clients, handle collections and manage its progressive shutdown.²

Founded in London in 2018, Hokodo enabled B2B merchants and marketplaces to offer flexible payment terms to their buyers in the form of Buy Now, Pay Later (BNPL) solutions – including trade accounts, extended payment terms, and instalment plans – while protecting themselves from the risk of non-payment.

Note: B2B BNPL is a payment method that enables buyers to defer payments for their purchases. Meanwhile, sellers are paid quickly by the BNPL provider, which also takes on the credit risk and manages collections from buyers.

As a BNPL provider, Hokodo stood out for its integration options. Clients could integrate Hokodo’s payment solutions via direct API integration, e-commerce plugins for platforms like Shopify, or a low-tech hosted checkout integration.³

If you’re looking for a Hokodo alternative, here are six solutions to consider.

Comparing Hokodo alternatives

*Provider*	*Relevant Products*	*Best For*	*Integrations*	*Handles Collections*	*Credit and Fraud Risk Protection*
Aria	Embedded Invoice Financing	B2B marketplaces & platforms	Direct integration via flexible REST APIs	Yes	Yes
Billie	Pay Later Pay in X instalments Pay on Account	B2B merchants, marketplaces, & platforms	Integration via API, SDK, or shop plugins⁴ PSP & partner integration7	Yes⁵	Yes⁵
iwocaPay	BNPL via Trade Credit	Small businesses, including B2B merchants	Integrations with e-commerce and accounting platforms⁶ API integration available⁶	Yes⁷	Yes⁷
Mondu	B2B BNPL Instalment Payments Digital Trade Account	B2B merchants & marketplaces	API integration E-commerce plugins PSP integration⁸	Yes⁹	Yes⁹
Kriya	Embedded PayLater Invoice Finance	B2B merchants	PayLater¹⁰ API integration Hosted payment page E-commerce plugins PSP integration Invoice Finance¹¹ Accounting software integrations only	Yes, with PayLater.¹⁰	Yes, with PayLater.¹⁰
Two	Guest Checkout (B2B BNPL) Trade Account Instalments Order Creator (Invoice Financing)	B2B merchants	(Excluding Order Creator¹³) API integration¹⁴ E-commerce plugins¹⁵	Yes¹⁶	Yes¹⁶

1. Aria: Embedded invoice financing for B2B marketplaces

Aria embedded invoice financing for B2B platforms

Aria is an embedded invoice financing solution built for B2B marketplaces. It’s designed to enable faster supplier payouts while allowing buyers to pay on their regular terms.

Unlike traditional B2B BNPL, which typically sits at checkout, Aria works at the invoice level and fits naturally into existing B2B payment flows. This makes it especially well-suited to marketplaces where invoicing and post-transaction payments are the norm.

Here’s how Aria fit into the payment process:

A business buyer registers on your marketplace.
Aria issues a credit limit for the buyer.
During checkout, you can offer financing to the buyer based on this credit limit.
After checking the invoice, Aria releases the funds to you or your suppliers, often within 24 hours.
The buyer pays Aria the full invoice amount on their preferred terms.

Here’s what to expect when you partner with us:

Buyers can pay on regular payment terms while Aria manages risk, compliance, and collections

In B2B, using payment terms is expected. Marketplaces that don’t offer 30+ net day payment terms risk deterring larger orders, increasing drop-offs, and limiting overall transaction volume.

The challenge is that offering pay-later terms is complex. Someone needs to front the funds to suppliers, assess buyer risk, manage invoices, ensure compliance, detect fraud, and handle collections.

This is where Aria comes in to streamline the process.

With Aria, you can offer pay-later options without carrying the operational and financial burden. Buyers keep the terms they’re used to – 30, 60, or 90 days – while suppliers are paid upfront. We finance the transaction, take on the risk, and manage everything behind the scenes.

To make this work at scale, Aria automates the heavy lifting. We handle buyer risk scoring and credit assessments by using our advanced payment and financing APIs to evaluate solvency, recommend credit limits, and make near real-time financing decisions. We also manage KYC and KYB checks in 100+ countries via white-label dashboards, keeping your platform compliant.

And when payments are late, we step in. Collections and default protection are included on most financed invoices. Aria is insured against non-payment, so neither you nor your suppliers are left to absorb the loss.

Sellers get access to instant payments, no matter the buyer’s terms

Longer payment terms may attract buyers, but they put real pressure on suppliers’ cash flow. Waiting 30, 60, or 90 days – with the added risk of late payment – makes it hard for sellers to cover day-to-day operating costs and grow their businesses.

Traditional B2B BNPL doesn’t fully solve this. It’s buyer-centric by design: sellers only get paid quickly if the buyer actively chooses a BNPL option at checkout. If a buyer sticks to standard payment methods (such as a bank transfer) with regular payment terms – say, 30 days – suppliers are still left waiting.

With Aria, on the other hand, instant payments are guaranteed for suppliers. Once the invoice is validated, the seller is repaid directly by Aria. We can advance up to 100% of the invoice value, often within 24 hours, regardless of the buyer’s payment terms.

Because we underwrite buyers, we can also support long-tail suppliers who are typically excluded from traditional bank financing. With simple onboarding, a 90%+ invoice acceptance rate, and flexible financing that lets sellers choose which invoices to fund, more of your sellers can access capital when they need it.

The result is greater freedom for suppliers, higher satisfaction across your marketplace, and growth without tying up your own capital – freeing you to invest your resources where they matter most.

Design user flows exactly as you want to keep users loyal to your platform

For marketplaces, keeping users on your platform is key to avoiding disintermediation. Every part of the financing experience – from onboarding to sending invoices to making payments – should stay within your ecosystem. Redirects, friction, or manual approvals slow users down and increase your risk of losing them.

That’s why Aria is fully embedded and white label. Our flexible REST API slots directly into your workflows, which means you can customise your payment experiences to match your software, brand, and industry. Think of us as a “B2B toolkit” rather than a rigid, out-of-the-box solution.

Behind the tech, you’ll get real people: a dedicated implementation manager, a key account manager, and direct access to our product and finance teams. And our pricing is flexible: you can absorb our fees or pass them on to suppliers. It’s up to you.

Thanks to self-service onboarding and automated flows, scaling stays cost-efficient. And with €2bn in financing capacity and support for over 100 countries and multiple currencies, Aria is equipped to grow right alongside you, no matter how fast your user base expands.

UrbanChain hits 10x growth in revenue after implementing Aria

Manchester-based renewable energy platform UrbanChain connects renewable generators directly with consumers. Rapid growth brought bigger clients demanding longer payment terms – but vendors still needed quick access to cash to keep operations running.

Processing hundreds of invoices manually quickly became unsustainable. UrbanChain needed a scalable solution that could provide flexible, line-by-line financing for its diverse vendor base, while also handling the complexity of underwriting larger buyers.

Aria delivered. Through an API integration, UrbanChain automated invoice financing across its vendor portfolio. Suppliers with different credit ratings could access instant payments, invoice processing became faster and more accurate, and larger accounts could be handled at scale.

The results were transformative:

£11M in invoices financed through Aria
Vendor payments reduced to 15 hours

10x increase in revenue, from £2.4M to £25M, since implementation

2. Billie: Straightforward BNPL solutions for B2B commerce

Berlin-based Billie provides Buy Now, Pay Later (BNPL) solutions for B2B e-commerce brands, marketplaces, and platforms. Like Hokodo, Billie enables businesses to offer flexible payment options to buyers while getting paid upfront by Billie.

Its relevant products include:

Pay Later: Buyers can defer their payments and choose their preferred terms.⁵
Pay in X: Buyers can split the payment of larger purchases into multiple instalments.¹⁷
Pay on Account: Buyers are given a credit line, with purchases within a particular period consolidated into one invoice. Statements can be settled weekly, bi-weekly, or monthly.¹⁸

For these products, Billie assumes credit and fraud risk, manages collections, and protects merchants against payment defaults.⁵ The solution offers direct integration via REST API, SDK, or supported shop plugins, as well as integrations with various Payment Service Providers (PSPs).⁴

3. iwocaPay: Accessible trade credit for B2B buyers

iwocaPay is a business finance solution from iwoca, a UK-based provider that primarily serves small businesses, including B2B merchants. It offers trade credit, which merchants can use to let buyers spread the cost of their purchases over time – either one, three, or twelve months – while the merchant gets paid upfront.⁷

Buyers are assigned spending limits, ranging from £150 to £30,000, based on iwoca’s credit assessment. iwoca handles collections, assumes credit risk, and protects against defaults.⁷ As for integration, merchants can explore bespoke API solutions or take advantage of iwoca’s partnerships with e-commerce and accounting platforms.⁶

4. Mondu: Flexible B2B payments across multiple industries

Headquartered in Amsterdam, Mondu provides B2B payment solutions for merchants and marketplaces across industries such as automotive, construction, electronics, and hospitality.

Mondu offers a range of products, but as a Hokodo alternative, its relevant offerings include:

B2B BNPL: Buyers can pay on invoice, with 30, 45, 60, or 90-day terms.¹⁹
Instalment Payments: Buyers can split larger purchases into three, six, or twelve monthly payments.²⁰
Digital Trade Accounts: Buyers can make multiple purchases during a particular period and defer payments. Purchases will be consolidated into one statement, which may close weekly, bi-weekly, or monthly. Net terms can range from five to thirty days.²¹

For these products, Mondu assumes credit and fraud risk, handles collections, and protects merchants against payment defaults.⁹ It also offers various integration options, including API integration, e-commerce plugins, and PSP integration.⁸

5. Kriya: Embedded BNPL and invoice financing for merchants

London-based Kriya specialises in digital credit and embedded finance for B2B merchants.

Its Embedded PayLater solution allows buyers to pay on 30, 60, or 90-day terms, while Kriya pays the merchant upfront, takes on credit risk, and handles collections.¹⁰ Integration options for Embedded PayLater include API connections, hosted payment pages, e-commerce plugins, and PSP integrations.¹⁰

Kriya also offers invoice financing, where merchants submit invoices through Kriya’s Merchant portal and can receive up to 90% of the invoice value in advance.¹¹ When the invoice is due, the buyer pays into the merchant’s Kriya trust account, at which point Kriya reconciles. Merchants are responsible for collections. They can track invoices through Kriya’s portal and integrate with accounting software.¹¹

Kriya is best-suited for merchants rather than marketplaces, as its solutions focus on individual business workflows rather than platform-wide integration.

6. Two: Longer payment terms for high-value B2B purchases

Based in Oslo, Two is a modern B2B payments platform “built for merchants, by merchants.” It offers flexible financing options that help buyers manage cash flow while giving sellers certainty and upfront payment.

Its products include:

Guest Checkout: A BNPL solution offered at checkout²² that lets buyers pay on extended terms ranging from 30 days to 24 months.²³
Instalments: Buyers can spread their costs over time through instalments from 3 to 36 months.²⁴
Trade Accounts: Buyers can consolidate payments and pay them off all at once, with terms ranging from 14 to 90 days.²⁵
Order Creator: Enables merchants to offer secure invoice purchases to any B2B customer, whether online or offline. Merchants create the order in the Merchant Portal, and Two performs a credit check on the buyer. The buyer then verifies their identity via email, after which Two sends the invoice and pays the merchant quickly.¹³

Excluding Order Creator (which is accessible through the Two Merchant Portal), the above products can be integrated via API integration¹⁴ or e-commerce plugins.¹⁵ For all products, Two assumes credit and fraud risk and manages collections.¹⁶

The right Hokodo alternative depends on your needs

The best Hokodo alternative depends on your marketplace’s specific needs. If your focus is primarily on offering Buy Now, Pay Later at checkout, providers like Billie, Mondu, Two, Kriya, and iwocaPay are strong options. They excel at buyer-centric BNPL use cases, where payment terms are the main priority.

For B2B marketplaces that need to balance buyer flexibility, seller cash flow, and platform control, embedded invoice financing offers a more scalable solution.

Aria goes beyond pay-later terms to support the entire marketplace ecosystem. Buyers can pay on the terms they expect, sellers receive guaranteed, instant payouts regardless of buyer behaviour, and the entire financing experience stays embedded, white-labeled, and fully under your control.

Chat with one of our financing experts to see how Aria could work for your marketplace.

FAQs: Hokodo alternatives

Why is Hokodo shutting down?

Hokodo ceased operations in November 2025, with reports describing funding and profitability challenges. The company plans to support existing clients with a reduced team managing collections until March 2026.

What are the best Hokodo alternatives for B2B marketplaces?

Several providers offer solutions similar to Hokodo, including Aria, Billie, Mondu, Two, Kriya, and iwocaPay.

For marketplaces that also need to protect seller cash flow and keep control of the payment experience, embedded invoice financing solutions like Aria are often a better fit. Aria sits directly inside your platform, allowing sellers to get paid instantly while buyers keep their usual payment terms – without adding operational complexity.

What should current Hokodo BNPL customers do now?

Reassess what your platform really needs. Is the priority buyer flexibility, faster supplier payouts, or a fully embedded experience that scales with you?

Look closely at how each solution integrates, how risk is handled, and how flexible the financing model is. The right partner should give you continuity – and room to grow – without forcing trade-offs.

How does Aria compare to Hokodo BNPL for B2B marketplaces?

Aria is built for the whole marketplace, not just the buyer side of the transaction. Buyers can pay on flexible terms, while sellers get the option to be paid instantly, independent of when the buyer settles.

Everything runs directly inside your platform, fully embedded and white-labelled. You keep control of the experience, the workflow, and the relationship, while Aria handles the financing and risk in the background.