Italian fintech Qomodo raises a whopping €34.5M in pre-seed funding

Qomodo staff | Picture credit score: Qomodo

Milan-based Qomodo, a fintech startup, introduced that it has secured €34.5M in a pre-seed spherical of funding.

Qomodo simplifies retail transactions by enabling instant, safe, and clear collections for retailers. The fintech startup additionally enhances buyer loyalty by providing interest-free instalments and increasing spending alternatives for customers.

The startup claims to have achieved one in every of Italy’s largest pre-seed funding rounds, attracting assist from each native and world enterprise capital corporations.

Traders supporting Qomodo

London-based Fasanara Capital led the spherical. The traders additionally embrace Exor Ventures, Proximity Capital, Ithaca Funding, Lumen Ventures, The Techshop, and Primo Ventures, together with early-phase programmes of Notion Capital, Octopus Ventures, and Plug&Play.

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Relating to the funding in Qomodo, Davide Fioranelli, CEO of Lumen Ventures says, “Whereas many firms might underestimate the potential of distributing fintech merchandise by way of offline channels, Qomodo stands out as an distinctive alternative.”

“Two key elements underpin this success: proprietary scoring expertise and a novel place as a ‘cash-in software program’. This revolutionary method is remodeling the expertise for each retailers and shoppers in bodily shops, significantly throughout ‘the purchases that matter’.”

“Qomodo’s forward-thinking method and the staff’s confirmed observe file make it a compelling funding alternative within the fintech area.”

Apart from VC, the spherical additionally noticed participation from angel traders together with Mark Ransford, Luca Ascani, Attilio Mazzilli, Simone Mancini (Scalapay), Benedetta Arese Lucini, Kai Hansen (Lieferando), Giorgio Tinacci (Casavo), Stiven Muccioli (BKN301), Freddy Kelly (Credit score Kudos), Christer Holloman (Divido), Raffaele Terrone (Scalapay), Andrea Gennarini, Giuseppe Lacerenza, Pietro Invernizzi, Serge Chiaramonte, and William Neale.

Qomodo teleports retailers into the digital future

Based in 2023 by Gianluca Cocco and Gaetano De Maio, Qomodo goals to supply good cost options to bodily retailers, providing providers similar to Purchase Now Pay Later choices for important and unexpected bills. 

By streamlining cost processes, the corporate permits retailers to give attention to their core operations and compete with on-line shops.

Qomodo claims to behave as an “all-in-one” cost strategies aggregator, together with one-time funds. The startup targets retailers coping with important and higher-value bills, to reinforce their monetary flexibility and buyer choices.

Co-founder Gianluca Cocco says, “We’ve developed an “all-in-one” product that gives retailers all of the cost options they want at present: from SmartPOS for card acceptance to Purchase Now Pay Later, Pay-by-Hyperlink, and Faucet-to-Cellphone.”

“This manner, we’re introducing innovation to many sectors that usually endure from technological delays and endure gradual and bureaucratic processes.”

“Motivated by robust early market indicators, investor belief, and worldwide companion curiosity, we’ve assembled a staff with fintech expertise to seize the chance for rising our buyer base by a whole lot, even 1000’s, of latest retailers every month,” provides Cocco.

The startup has over 500 retailers adopting its providers throughout stealth mode. Agreements underway will combine 1000’s of bodily retailers, together with unbiased companies and main retail chains, by way of API-based integration within the coming months.

Qomodo’s three cost options

Qomodo’s cost suite permits shops to watch their assortment efficiency. The cost strategies supplied are:

Pay over time: a Purchase Now Pay Later answer permitting clients to make interest-free instalment funds. Approval takes 30 seconds with out the necessity for paperwork.
Pay now: It includes a smartPOS system that accepts main credit score/debit playing cards, together with Mastercard, VISA, and native choices.
Pay now remotely: It permits on-line cost assortment by way of pay-by-link or with ‘Faucet-to-phone’ expertise, turning Android smartphones into contactless card readers (SoftPOS).

Co-founder Gaetano De Maio says, “Qomodo is a collection of instruments to develop companies, foster buyer loyalty, and purchase new clients. Concurrently, because of the Purchase Now Pay Later choice with out curiosity and prices, shoppers can fulfil their wants by accessing providers that have been beforehand inaccessible, particularly on the earth of bodily shops.”

“In essence, we’re facilitating a straightforward and instant transition to the digital realm, a panorama filled with alternatives for a lot of operators who haven’t but embraced innovation on this course.”