Spanish FinTech firm Ritmo has raised €13.8m from a seed funding round led by JME Ventures.
Founded in 2020, Ritmo claims that it provides digital entrepreneurs with the capital they need to scale their investments in online marketing campaigns. The company invests between €50,000 and €3m under a revenue-share model with 0% interest and no hidden fees.
The entrepreneurs then pay back a small percentage of their sales until the total borrowed capital is paid back in full. The company, in return, applies a 6% commission on the capital advanced.
Ritmo also offers its user’s analytics tools to provide e-commerce companies with certain recommendations for growth.
According to Ritmo, it intends to use the newly secured funds to expand into unnamed markets in Europe and Latin America.
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