Finance and insurance software developer Hokodo has launched its services in France after forming a deal with accounting platform Cegid.
The aim of this partnership is to help small and medium-sized businesses in the country protect themselves from non-payments.
Hokodo claims there are around 40 SMEs each day that experience late or non-payments, hindering their ability to grow.
Users of Cegid will now have access to invoice insurance through the Hokodo platform.
Hokodo co-founder and co-CEO Louis Carbonnier 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.”
Last year, Hokodo formed a similar deal with UK-based accounting and business banking solution CountingUp. The deal enables CountingUp users to gain access to the invoice insurance solution.
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