(28 April 2023 – Global) A leading provider of Business-to-Business(B2B) payment solutions, Hokodo, and Citi today announced their collaboration to power payments for Covento, a unique renewable energy marketplace.
The strategic collaboration will deliver a frictionless B2B Buy Now, Pay Later (BNPL) solution that enables large global businesses to offer trade credit on e-commerce platforms and marketplaces.
The e-commerce operation to benefit from this B2B payment solution is Covento, a B2B marketplace for renewable energy spare parts and tools that has been created by Vestas, the global leader in sustainable energy solutions.
Covento provides a central online solution to connect buyers and sellers of spare parts across various renewable energy technologies, delivering transparency for prices, product availability, and delivery tracking. Their search algorithm enables a buyer to search for a part with whatever information they have available and finds the part with all relevant offers from suppliers.
“We are excited to partner with Hokodo and Covento to deliver a new marketplace experience for the renewables sector. Digitalising trade flows in the renewables ecosystem will make it easier and safer for buyers and sellers to interact, manage risks and to pay or finance their purchases and sales.” Said Citi EMEA (Europe, Middle East, and Africa) Head of Trade & Working Capital Solutions, Peadar Mac Canna.