Payments and financial solutions are two-penny at this point, but mainly for online e-commerce. What about physical business? In 2023 QomodoAn “All-in-One” number aggregator for physical merchants based in Milan has € 34.5 million (€ 36.9 million.
It is now as much as finance 13.5 million euros (13.9 million US dollars). The round was brought together by RTP Global and LMDV Capital, with the proximity of proximity capital, Primo Capital and other remarkable investors, including the founders of Face, Fiscen and Freetrade (latter through lumen ventures). This signifies that it now increases a complete of 48 million euros (49.6 million US dollars – ie 18 million euros equity, 30 million euros in credit facility).
Qomodo was founded in 2023 by the entrepreneurs Gianluca Cocco and Gaetano de Maio and claims to serve 2,500 physical merchants, mainly in Italy.
The idea is that in Qomodo small businesses they will improve their money flow and increase the income with a BNPL solution with which consumers can create flexible, interest-free installments for items purchased within the shop.
This signifies that retailers usually tend to make sales and at the identical time reduce the credit risk of consumers.
In an interview with Techcrunch, Gianluca Cocco, CEO and co -founder of Qomodo said: “Our software mainly simplifies the dealer transaction to be able to lower the payment fees and rationalize their operation. You can say that we digitize KMBS that were left behind by FinTech within the physical world. “
“It’s a kind of 360 -degree approach,” he added. “We have a BNPL and POS solution, but we will also launch other bank products such as maps and bank accounts.”
He said that they’re in a room where FinTech shouldn’t be so present or under no circumstances: “Because it’s about physical merchants. As a rule, financial institutions offer personal loans and traditional credit products or bank products. So these are our actual fundamental competitors. “
Louis Dusart, VP, Europe, RTP Global, commented in a proof: “Italy has been waiting for a B2B -Fintech champion and we’re subsequently blissful to support Qomodo. In view of the numerous domestic market of Italy and the “nation of KMBS”, there’s an incredible opportunity to revolutionize the shopping experience within the shop within the shop and improve retailers for retailers in addition to for consumers. “
Qomodo has already teamed up with retailers comparable to Decathlon, Calzedonia, Moschino, Samsonite, Nike and Pandora.
