💳 Funding for BNPL Expansion
Qomodo, a Milan-based fintech, raised $13.9M (€13.5M) in Series A funding. RTP Global and LMDV Capital co-led the round, with other notable investors like FACEIT founders and Lumen Ventures. This brings Qomodo’s total funding to $49.6M (€48M), split between €18M in equity and €30M in credit facilities. The funds will help Qomodo expand BNPL offerings for in-store merchants across Italy.
🏬 Serving Italy’s SMBs
Qomodo, founded in 2023 by Gianluca Cocco and Gaetano de Maio, serves 2,500 physical merchants. The platform lets retailers offer interest-free installments to shoppers while reducing credit risks. CEO Cocco said: “We digitize SMBs left behind by fintech in the physical world.” Partner retailers include brands like Decathlon, Calzedonia, and Pandora.
📊 Beyond BNPL: New Features
Qomodo aims to simplify SMB payments and operations. It plans to launch banking products, including cards and bank accounts, expanding beyond its BNPL and POS services. The company’s software reduces payment fees and streamlines operations. According to RTP Global’s VP Louis Dussart, Italy’s SMB market offers huge potential for transformation.
🚀 Competitive Edge
Qomodo is carving out space in physical retail, competing with banks and traditional lenders. With Italy’s domestic market rich in SMBs, the company sees untapped opportunity. Dussart described Qomodo as “Italy’s B2B fintech champion,” poised to revolutionize in-store shopping for merchants and consumers alike.
Is Qomodo set to dominate the BNPL space for small merchants?
