Italian FinTech firm, Qomodo, has recently concluded a significant seed funding round, accumulating €34.5m to drive its mission.
According to FinTech Finance, this investment round was spearheaded by Fasanara Capital, marking a robust vote of confidence in the company’s innovative financial offerings.
Founded by the forward-thinking duo, Gianluca Cocco and Gaetano De Maio, who have an impressive track record of successful ventures in Europe, Qomodo is making strides in revolutionising the payment landscape for physical retailers. With a focus on the pressing need for adaptable payment options, Qomodo’s suite of solutions includes a standout Buy Now Pay Later service tailored for essential and unforeseen expenses, which promises to enhance customer satisfaction and subsequently, business turnover.
At its core, Qomodo simplifies transactions for brick-and-mortar stores, offering an “all-in-one” payment methods aggregator. This vital service allows retailers to manage collections efficiently, ensuring immediate, secure, and transparent transactions. The introduction of interest-free installment payments also presents customers with more spending flexibility, often a key differentiator in the competitive retail space.
The new funds are earmarked for the further development and expansion of Qomodo’s payment solutions. A significant portion will be channelled into refining their Buy Now Pay Later offerings, alongside bolstering their smart payment systems that are designed to bridge the technological gap faced by physical retailers against online counterparts.
Qomodo has already made remarkable inroads, with over 500 merchants onboarding during its stealth phase. The company anticipates a surge in retailer adoption, with several agreements in the pipeline promising to connect thousands more through API-based integration, ranging from independent businesses to large retail chains.
“We’ve developed an ‘all-in-one’ product that offers merchants all the payment solutions they need today: from SmartPOS for card acceptance to Buy Now Pay Later, Pay-by-Link, and Tap-to-Phone. This way, we’re introducing innovation to many sectors that often suffer from technological delays and endure slow and bureaucratic processes,” Qomodo CEO Gianluca Cocco said.
His counterpart, Qomodo COO Gaetano De Maio, added, “Through a simple, transparent, and secure platform, Qomodo empowers stores to free themselves from the stress associated with managing customer payments—a particularly delicate aspect today—enabling them to fully concentrate on their businesses.”
As Qomodo navigates this new phase of growth, the seed funding stands as the latest endorsement of its potential, fostering anticipation for how its solutions will reshape the payment experiences for physical retailers.
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