Qomodo, a payment methods aggregator based in Milan, known for aiding physical retailers, has managed to amass $13.9 million in series A funding. The company, launched in 2023, had previously introduced a “Buy Now Pay Later” (BNPL) model amidst a $36.9 million pre-seed round.
The new round of funding was co-steered by RTP Global and LMDV Capital, with contributions from Proximity Capital, Primo Capital and prominent investor founders of FACEIT, Fiscozen, and Freetrade. Qomodo’s total funding now stands at $49.6 million.
Under the direction of founders Gianluca Cocco and Gaetano de Maio, Qomodo services nearly 2,500 physical merchants, primarily in Italy. The firm equips small businesses with a BNPL alternative that permits customers to have flexible, interest-free installments on in-store purchases. This approach not only propels sales for retailers but also lowers the credit risk from customers.
Qomodo CEO, Gianluca Cocco, indicated that their software simplifies merchant transactions to curb payment fees and streamline operations. The company aims to digitize small-medium businesses (SMB) who have been stranded by fintech schemes.
Qomodo has partnerships with key retailers including Decathlon, Calzedonia, Moschino, Samsonite, Nike, and Pandora.
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