Qomodothe Milan-based “all-in-one” smart payment solution for physical merchants, announces that it has raised 13.5 million euros in Series A in order to develop AI tools intended to expand its portfolio.
The round was co-led by RTP Global and LMDV Capital, with participation from Proximity Capital, Primo Capital as well as other notable investors including FACEIT founders Fiscozen and Freetrade (the latter via Lumen Ventures).
This builds on capital previously raised in pre-seed level which included the participation of the Elkann-Agnelli, Berlusconi and Moratti family offices. This brings the total funds raised by Qomodo in just 12 months after launch to €48 million (€18 million equity, €30 million credit facility).
Gianluca CoccoCEO and co-founder of Qomodo, shared: “As entrepreneurs who are deeply passionate about Italy, we saw a real opportunity to bring much-needed innovation to the domestic market. This funding allows us to continue transforming the way brick-and-mortar merchants operate, giving them access to smarter and more flexible payment options. We’re incredibly proud of the growth we’ve achieved, but it’s only the beginning. With the continued support of Italian and international investors, we are ready to reshape payments in Italy.
Founded in 2023 by seasoned entrepreneurs Gianluca Cocco and Gaetano De Maio, Qomodo is an innovative fintech company with a team of 50 people. Qomodo offers seamless, all-in-one payment solutions designed to simplify and improve the transaction experience for merchants and consumers, supporting in-store and remote payments.
With a focus on maximizing revenue and supporting business growth for brick-and-mortar retailers, Qomodo’s technology enables more than 2,500 businesses (from beauty centers to dental practices, veterinary clinics and auto repair shops) to provide secure and reliable revenue collection tools.
Qomodo’s digital ecosystem is designed to empower micro and small businesses by improving cash flow and increasing revenue potential. Its flagship product, the Buy Now, Pay Later (BNPL) solution, allows consumers to make flexible, interest-free installment payments. Qomodo claims that this not only leads to higher sales for merchants but also reduces credit risks.
The latest funding round will enable Qomodo to expand its product portfolio to offer a complete ecosystem meeting the administrative and transactional needs of brick-and-mortar merchants, and leverage advanced AI applications to scale its operations and support thousands of additional traders across Italy.
Gaetano de Maio, co-founder and COO of Qomodo, added: “In just over 12 months, we have raised more than €48 million, a real record, driven by strong market demand for innovation, namely digital payments and BNPL. (…) The new funding will allow Qomodo to continue to bridge the gap between online and physical retail with an all-in-one smart payment system that will allow brick-and-mortar merchants to offer their customers the same convenience and flexibility than the e-commerce giants.
In approximately 12 months since the launch of the platform, Qomodo has achieved the following key milestones:
- +500% customer growth: Qomodo has quintupled its customer base in less than a year, now supporting more than 2,500 merchants.
- Full suite of products: 20% of Qomodo’s customers now use both its BNPL service and smart point-of-sale (POS) system, which simplifies payment processes and reduces financial risks for small businesses.
- Next-generation solutions: Qomodo’s Buy Now Pay Later (BNPL) product transforms the way merchants and their customers interact, enabling flexible, interest-free installment payments. This has impacted consumers facing unexpected costs, such as veterinary bills or large one-time purchases, while reducing credit risk for small businesses.
Louis DussartVice President, Europe, RTP Global, commented: “Italy has been waiting for a B2B fintech champion and that is why we are delighted to support Qomodo. Given the importance of Italy’s domestic market and its status as an ‘SME nation’, there is a huge opportunity to revolutionize and improve in-store shopping experiences for both retailers and customers. consumers. Gianluca and Gaetano have the vision and prior experience of developing start-ups in the region to realize this potential. We look forward to collaborating with them every step of the way.
Leonard Maria Del VecchioPresident of LMDV Capital, concludes: “We are delighted to announce this investment, a step that represents not only an important strategic step but also a tribute to the talent and excellence of Italian craftsmanship. We have closely followed Gianluca and Gaetano’s journey from the very beginning, admiring their ability to transform an idea into a tangible project, validate the product in record time and scale the company with determination and vision.»