Hokodo says yes to £9m Series A funding

Hokodo, a B2B buy-now, pay-later fintech, has raised $12.5m (£8.8m) in Series A funding. Mosaic Ventures led the round alongside Notion Capital and angel investors including Transferwise founder Taavet Hinrikus. Hokodo offers merchants instant credit so they can offer online customers immediate payment terms. The fintech estimates that the B2B market in Western Europe is worth $12trn, of which $680bn are online sales – giving Hokodo a potential $15bn revenue opportunity, which is set to double every five years.

Prevayl tracks £8m in backing

Intelligent sportswear brand Prevayl, which incorporates biometric user data into its clothing, has raised £7.5m from digital-first consumer brand investor Stonebridge. The sportswear brand wants to have the look and feel of other luxury fitness clothes, while incorporating its own sensors to work with its Prevayl app.

Piglet squeaks with £6m investment

Piglet, the direct-to-consumer linen homeware brand, has raised £6m from Active Partners. This marks the first time Piglet, which sells linen bedding, sleepwear and home accessories, has taken on external investment. Previous Active Partners investments include trendy cycling brand Rapha, members club Soho House and the Leon fast-food chain.

Zapnito zaps £3.3m in Series A funding

London-based Zapnito, the white-label online community building platform, has raised £3.3m Series A through Octopus Ventures. Zapnito’s clients include publishers Springer Nature and Wiley, as well as the intergovernmental organisation OECD.

Collegia plans ahead with £500,000 backing

Collegia, the UK’s only app-based workplace and personal pension provider, has raised £500,000 in funding ahead of launch. This comes on top of existing backing from Oxford University Incubator and an angel investor based in Hong Kong and family offices in Brazil, Dubai, Italy and the UK. The app targets the UK workplace pensions market, which serves 10.2m workers, over 1.6m employers and has annual investments of over £90bn.

Kavida.ai closes £300,000 in pre-seed funding

Kavida.ai, a supply chain resiliency start-up, has raised £300,000 in pre-seed funding from investors. The company helps enterprise-level companies with intelligence tools to prevent and mitigate supply chain disruptions in sectors including clothing, food, retail, pharma and FMCG. QIMA led the pre-seed alongside minority investors Sri Sharma, Pradeep Menon, Rohan Haldea and the PDS Multinational Group.

More Deals of the Week

Deals of the week June 1 to June 4 – a GrowthBusiness roundup