Qomodo, an Italian FinTech, has secured €13.5m in Series A funding co-led by RTP Global and LMDV Capital, with additional participation from Proximity Capital and Primo Capital.
According to Finextra, this investment marks a significant milestone, bringing Qomodo’s total funding to €48m, comprised of €18m in equity and €30m in a credit facility, all raised within just 12 months of its launch.
Qomodo operates a digital ecosystem tailored to enhance the operations of micro and small businesses. Its flagship offering introduces a buy now, pay later (BNPL) scheme on the high street, which permits consumers to make purchases via flexible, interest-free instalment payments. This innovative approach aims not only to boost merchant sales but also to mitigate credit risks by streamlining and securing transaction processes, ultimately reducing operational costs for merchants.
Currently, Qomodo’s services are benefiting over 2,500 physical merchants across Italy. With the fresh capital, the company plans to broaden its product range, recruit additional staff, and enhance its use of artificial intelligence to further refine its offerings.
Gianluca Cocco, CEO of Qomodo, expressed enthusiasm about the funding, stating, “This funding allows us to continue transforming how physical merchants operate, giving them access to smarter, more flexible payment options.” Furthermore, Gaetano de Maio, COO of Qomodo, highlighted the future direction, noting, “The new funding will allow Qomodo to continue bridging the gap between online and physical retail with an all-in-one smart payment system that empowers physical merchants to offer their customers the same convenience and flexibility as e-commerce giants.”
Previously, Qomodo had raised significant funding including a €30m credit facility, positioning it well for future growth and innovation in the BNPL sector.
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