Qomodo, the Milan-based “all-in-one” good cost answer for bodily retailers, proclaims it has raised €13.5 million in Sequence A funding so as to develop AI instruments geared toward increasing its portfolio.
The spherical was co-led by RTP International and LMDV Capital, with participation from Proximity Capital, Primo Capital in addition to different notable traders together with the founders of FACEIT, Fiscozen and Freetrade (the latter via Lumen Ventures).
This builds on beforehand raised capital on the pre-seed degree which included participation from the Elkann-Agnelli, Berlusconi, and Moratti household places of work. It brings the overall funds raised by Qomodo inside simply 12 months of its launch to €48 million (€18 million of fairness, €30 million of credit score facility).
Gianluca Cocco, CEO and Co-Founding father of Qomodo, shared: “As entrepreneurs with a deep ardour for Italy, we noticed an actual alternative to convey much-needed innovation to the home market. This funding permits us to proceed reworking how bodily retailers function, giving them entry to smarter, extra versatile cost choices. We’re extremely happy with the expansion we’ve achieved, however that is just the start. With the continued help of each Italian and world traders, we’re poised to reshape funds in Italy.”
Based in 2023 by seasoned entrepreneurs Gianluca Cocco and Gaetano De Maio, Qomodo is an progressive fintech firm with a crew of fifty. Qomodo gives seamless, all-in-one cost options designed to simplify and improve the transaction expertise for each retailers and customers, supporting each in-store and distant funds.
With a concentrate on maximising income and supporting enterprise development for bodily retailers, Qomodo’s expertise empowers over 2,500 companies—from magnificence centres to dental practices, veterinary clinics, and auto restore retailers—by delivering safe, dependable income assortment instruments.
Qomodo’s digital ecosystem is designed to empower micro and small companies by bettering money movement and rising income potential. Its flagship product, the Purchase Now, Pay Later (BNPL) answer, permits customers to make versatile, interest-free instalment funds. Qomodo argues that this not solely drives greater gross sales for retailers but in addition reduces credit score dangers.
The newest funding spherical will allow Qomodo to develop its product portfolio to supply a complete ecosystem addressing the executive and transactional wants of bodily retailers, and leverage superior AI functions to scale operations and help 1000’s extra retailers throughout Italy.
Gaetano de Maio, Co-Founder and COO of Qomodo, added: “In simply over 12 months, we’ve got raised over 48 million euros, a real report, pushed by the sturdy market demand for innovation—particularly, digital funds and BNPL. […] The brand new funding will enable Qomodo to proceed bridging the hole between on-line and bodily retail with an all-in-one good cost system that empowers bodily retailers to supply their prospects the identical comfort and suppleness as e-commerce giants.”
In about 12 months, since launching the platform Qomodo has achieved the next key milestones:
- +500% Buyer Development: Qomodo has grown its buyer base fivefold in lower than a 12 months, now supporting over 2,500 retailers.
- Complete Product Suite: 20% of Qomodo’s prospects now use each its BNPL service and the good Level of Sale (POS) system, which simplifies cost processes and reduces monetary dangers for small companies.
- Subsequent-Gen Options: Qomodo’s Purchase Now Pay Later (BNPL) product is reworking how retailers and their prospects work together, permitting versatile, interest-free instalment funds. This has been impactful for customers going through surprising prices, akin to vet payments or massive one-time purchases, whereas lowering the credit score danger for small companies.
Louis Dussart, VP, Europe, RTP International, commented: “Italy has been ready for a B2B fintech champion and that’s why we’re delighted to again Qomodo. There’s an enormous alternative, given Italy’s vital home market and standing because the ‘nation of SMBs’, to revolutionise and improve in-store buying experiences – for each retailers and customers. Gianluca and Gaetano have the imaginative and prescient and the prior expertise of scaling start-ups within the area to realize this potential. We stay up for partnering with them at each stage of their journey.”
Leonardo Maria Del Vecchio, Chairman of LMDV Capital, concludes: “We’re thrilled to announce this funding, a step that represents not solely a major strategic transfer but in addition a tribute to the expertise and excellence of Italian craftsmanship. We have now intently adopted Gianluca and Gaetano’s journey from the very starting, admiring their skill to show an thought right into a tangible undertaking, validate the product in report time, and scale the enterprise with dedication and imaginative and prescient.”
