Fintech Qomodo raises €13.5 million to revolutionise payments for physical merchants

Qomodo, the Milan-based “all-in-one” wise repayment option for physical sellers, reveals it has actually elevated EUR13.5 million in Collection A financing in order to create AI devices focused on increasing its profile.

The round was co-led by RTP International and LMDV Resources, with engagement from Closeness Resources, Primo Resources in addition to various other remarkable financiers consisting of the creators of FACEIT, Fiscozen and Freetrade (the latter via Lumen Ventures).

This improves formerly elevated resources at the pre-seed level that included engagement from the Elkann-Agnelli, Berlusconi, and Moratti family members workplaces. It brings the complete funds elevated by Qomodo within simply twelve month of its launch to EUR48 million (EUR18 countless equity, EUR30 countless credit history center).

Gianluca Cocco, Chief Executive Officer and Founder of Qomodo, shared: ” As business owners with a deep enthusiasm for Italy, we saw a genuine possibility to bring much-needed advancement to the residential market. This financing enables us to proceed changing exactly how physical sellers run, providing accessibility to smarter, a lot more versatile repayment choices. We’re extremely pleased with the development we have actually attained, yet this is simply the start. With the ongoing assistance of both Italian and worldwide financiers, we’re positioned to improve settlements in Italy.”

Established In 2023 by experienced business owners Gianluca Cocco and Gaetano De Maio, Qomodo is a cutting-edge fintech business with a group of 50. Qomodo provides smooth, all-in-one repayment options made to streamline and improve the deal experience for both sellers and customers, sustaining both in-store and remote settlements.

With a concentrate on increasing profits and sustaining company development for physical sellers, Qomodo’s innovation equips over 2,500 organizations– from charm centres to oral methods, vet centers, and vehicle service center– by supplying safe, trustworthy profits collection devices.

Qomodo’s electronic community is made to equip mini and local business by boosting capital and enhancing profits possibility. Its front runner item, the Buy Currently, Pay Later On (BNPL) option, allows customers to make versatile, interest-free instalment settlements. Qomodo suggests that this not just drives greater sales for sellers yet likewise decreases credit history dangers.

The most up to date financing round will certainly make it possible for Qomodo to increase its item profile to use a thorough community attending to the management and transactional demands of physical sellers, and take advantage of progressed AI applications to scale procedures and assistance thousands a lot more sellers throughout Italy.

Gaetano de Maio, Founder and COO of Qomodo, included: ” In simply over twelve month, we have actually elevated over 48 million euros, a real document, driven by the solid market need for advancement– particularly, electronic settlements and BNPL. […] The brand-new financing will certainly enable Qomodo to proceed linking the void in between online and physical retail with an all-in-one wise repayment system that equips physical sellers to use their clients the exact same benefit and versatility as ecommerce titans.”

In around twelve month, given that introducing the system Qomodo has actually attained the adhering to vital landmarks:

• +500% Client Development: Qomodo has actually expanded its consumer base fivefold in much less than a year, currently sustaining over 2,500 sellers.
• Comprehensive Item Collection: 20% of Qomodo’s clients currently make use of both its BNPL solution and the wise Factor of Sale (POS) system, which streamlines repayment procedures and decreases economic dangers for local business.
• Next-Gen Solutions: Qomodo’s Buy Currently Pay Later (BNPL) item is changing exactly how sellers and their clients engage, permitting versatile, interest-free instalment settlements. This has actually been impactful for customers encountering unforeseen prices, such as veterinarian expenses or big single acquisitions, while decreasing the credit history threat for local business.

Louis Dussart, VP, Europe, RTP Global, commented: ” Italy has actually been awaiting a B2B fintech champ which’s why we are happy to back Qomodo. There’s a massive possibility, provided Italy’s considerable residential market and standing as the ‘country of SMBs’, to change and improve in-store purchasing experiences– for both merchants and customers. Gianluca and Gaetano have the vision and the previous experience of scaling startups in the area to accomplish this possibility. We eagerly anticipate partnering with them at every phase of their trip.”

Leonardo Maria Del Vecchio, Chairman of LMDV Resources, ends: ” We are enjoyed introduce this financial investment, an action that stands for not just a substantial tactical relocation yet likewise a homage to the ability and quality of Italian workmanship. We have actually very closely adhered to Gianluca and Gaetano’s trip from the very start, appreciating their capacity to transform a concept right into a concrete job, confirm the item in document time, and range business with decision and vision.“

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