Qomodo, an Italian startup that helps physical merchants offer their customers BNPL payment options, has raised €13.5 million in Series A funding.
The round was co-led by RTP Global and LMDV Capital, with participation from Proximity Capital and Primo Capital, and brings the total funds raised by Qomodo within 12 months of its launch to €18 million in equity and another €30 million in a credit facility.
Qomodo’s digital ecosystem is designed to empower micro and small businesses by improving cash flow and increasing revenue potential. Its flagship product brings buy now, pay later to the high street, enabling consumers to make flexible, interest-free instalment payments.
This, claims the firm, not only drives higher sales for merchants but also reduces credit risks while simplifying and securing transactions to merchants reduces costs and streamlines operations.
Already serving over 2500 physical merchants in Italy, Qomodo will use the funding to expand its product portfolio, make hires and push its use of AI.
Gianluca Cocco, CEO, Qomodo, says: "This funding allows us to continue transforming how physical merchants operate, giving them access to smarter, more flexible payment options."
Gaetano de Maio, COO, Qomodo, adds: "The new funding will allow Qomodo to continue bridging the gap between online and physical retail with an all-in-one smart payment system that empowers physical merchants to offer their customers the same convenience and flexibility as e-commerce giants."