In a significant milestone for the Italian startup ecosystem, Milan-based fintech company Qomodo has raised €13.5 million in Series A funding, signaling a major leap forward in digital payment technologies for physical merchants. The round, co-led by RTP Global and LMDV Capital, marks a pivotal moment for the young company that has rapidly gained traction in transforming payment experiences.
Founded in 2023 by entrepreneurs Gianluca Cocco and Gaetano De Maio, Qomodo has quickly emerged as a promising player in the fintech landscape, offering an all-in-one smart payment solution designed to empower small and micro businesses. With a current team of 50 professionals, the startup has already supported over 2,500 businesses across various sectors, from beauty centers to veterinary clinics.
The funding round represents more than just financial support; it’s a strategic investment in reimagining how physical merchants conduct transactions. Qomodo’s flagship Buy Now, Pay Later (BNPL) solution and intelligent Point of Sale (POS) system are at the forefront of this transformation, providing merchants with flexible, secure, and innovative payment tools.
Key Funding and Growth Highlights
Qomodo’s remarkable trajectory is underscored by impressive growth metrics. In just 12 months, the company has:
- Achieved a +500% customer growth
- Raised a total of €48 million (€18 million in equity and €30 million in credit facility)
- Developed a comprehensive product ecosystem supporting both in-store and remote payments
The new funding will primarily focus on expanding Qomodo’s product portfolio and leveraging advanced AI applications to scale operations. By bridging the gap between online and physical retail, the startup aims to provide merchants with the same level of convenience and flexibility offered by e-commerce giants.
Implications for the Tamil Nadu Startup Ecosystem
While Qomodo is an Italian startup, its innovative approach to solving merchant payment challenges offers valuable insights for emerging fintech ecosystems like Tamil Nadu. The startup’s success demonstrates the potential for localized, technology-driven solutions that address specific market needs. Tamil Nadu’s vibrant startup ecosystem could draw inspiration from Qomodo’s rapid growth, customer-centric approach, and ability to attract significant investor interest.
Investor Perspectives
Louis Dussart, VP of Europe at RTP Global, highlighted the immense potential: “Italy has been waiting for a B2B fintech champion, and that’s why we are delighted to back Qomodo. There’s a huge opportunity to revolutionize in-store shopping experiences for both retailers and consumers.“
Leonardo Maria Del Vecchio, Chairman of LMDV Capital, added: “We are thrilled to announce this investment, which represents not only a strategic move but also a tribute to the talent and excellence of Italian craftsmanship.“
Looking Forward
Qomodo’s CEO Gianluca Cocco remains optimistic about the company’s future: “This funding allows us to continue transforming how physical merchants operate, giving them access to smarter, more flexible payment options. We’re incredibly proud of our growth, but this is just the beginning.“
By providing merchants with AI-powered tools, flexible payment solutions, and comprehensive financial support, Qomodo is not just a payment platform—it’s a catalyst for digital transformation in the small business sector.
