Funds and monetary options are two-a-penny at this level, however principally for on-line e-commerce. What about bodily shops? In 2023 Qomodo, a Milan-based “all-in-one” fee strategies aggregator for bodily retailers, got here out with a €34.5 million ($36.9 million) pre-seed round (principally debt), which we coated, to broaden the BNPL mannequin into different classes.
It’s now raised €13.5 million ($13.9 million) in a Sequence A funding. The spherical was co-led by RTP International and LMDV Capital, with participation from Proximity Capital, Primo Capital in addition to different notable buyers together with the founders of FACEIT, Fiscozen and Freetrade (the latter by way of Lumen Ventures). Which means it’s now raised €48 million in complete ($49.6 million — so, €18 million of fairness, €30 million of credit score facility).
Based in 2023 by entrepreneurs Gianluca Cocco and Gaetano de Maio, Qomodo claims to now serve 2,500 bodily retailers, principally in Italy.
The concept is that Qomodo lets small companies enhance their money movement and improve income with a BNPL answer which lets shoppers make versatile, interest-free installments on gadgets bought in-store.
This implies retailers usually tend to make gross sales, whereas on the identical time lowering the credit score threat from clients.
Talking to TechCrunch Gianluca Cocco, CEO and Co-Founding father of Qomodo, mentioned: “Our software program mainly simplifies the service provider transaction to assist them scale back fee charges and streamline their operation. You’ll be able to say that we’re digitizing SMBs which have been left behind by FinTech within the bodily world.”
“It’s a type of 360 levels strategy,” he added. “We now have a BNPL and POS answer however we’re additionally going to launch different banking merchandise like playing cards and financial institution accounts.”
He mentioned they’re in an area the place FinTech shouldn’t be that current, or in no way: “As a result of that is about bodily retailers. Often, monetary establishments present private loans and conventional lending merchandise, or banking merchandise. So these are our precise major opponents.”
Louis Dussart, VP, Europe, RTP International, commented in a press release: “Italy has been ready for a B2B fintech champion and that’s why we’re delighted to again Qomodo. There’s an enormous alternative, given Italy’s important home market and standing because the ‘nation of SMBs’, to revolutionize and improve in-store buying experiences – for each retailers and shoppers.”
Qomodo has already partnered with retailers comparable to Decathlon, Calzedonia, Moschino, Samsonite, Nike, and Pandora.
