Qomodo Raises €13.5M in Series A Funding to Revolutionize BNPL Solutions for High Street Retailers

Qomodo Raises €13.5M in Series A Funding to Revolutionize BNPL Solutions for High Street Retailers

Qomodo, an innovative Italian FinTech company, has successfully secured €13.5 million in Series A funding, marking a pivotal moment in its journey. This significant investment, co-led by RTP Global and LMDV Capital, coupled with support from Proximity Capital and Primo Capital, elevates Qomodo’s total funding to €48 million within just one year of its launch.

The Vision Behind Qomodo’s Funding

With a keen focus on supporting micro and small businesses, Qomodo operates a digital ecosystem designed to streamline their operations. Central to its offerings is a Buy Now, Pay Later (BNPL) scheme that allows consumers to make purchases through flexible, interest-free installment payments. This innovative model not only enhances merchant sales but also reduces credit risks by improving transaction security and lowering operational costs.

Current Impact and Future Plans

At present, Qomodo’s services are benefiting over 2,500 physical merchants across Italy. The recent funding will enable the company to:

  • Expand its product range
  • Recruit more staff
  • Enhance its artificial intelligence capabilities to improve service offerings

Gianluca Cocco, CEO of Qomodo, expressed his enthusiasm about the funding, stating, “This funding allows us to continue transforming how physical merchants operate, giving them access to smarter, more flexible payment options.”

Bridging the Gap Between Online and Physical Retail

Gaetano de Maio, COO of Qomodo, emphasized the company’s future direction, highlighting that the new funding will facilitate the bridging of gaps between online and physical retail environments. He noted, “Our smart payment system empowers physical merchants to offer their customers the same convenience and flexibility as e-commerce giants.”

Qomodo’s Journey So Far

Prior to this funding round, Qomodo had already secured a significant €30 million credit facility, positioning itself for continued growth and innovation within the BNPL sector. The firm’s ongoing commitment to enhancing the retail experience demonstrates its potential to reshape the financial landscape for small businesses.

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For more information on Qomodo and its funding journey, visit Finextra.

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