Qomodo, an Italian all-in-one smart payment solution for physical merchants, has snapped €13.5 million in Series A funding. The round was co-led by RTP Global (which backed emma and Yonder) and LMDV Capital, with participation from Proximity Capital and Primo Capital. It also saw participation from notable investors, including the founders of FACEIT, Fiscozen and Freetrade (the latter through Lumen Ventures).
The latest investment follows the capital raised at the pre-seed level, which included participation from the Elkann-Agnelli, Berlusconi, and Moratti family offices. With this, the total funding raised by the company within just 12 months of its launch accounts for €48 million.
Funds utilisation
The latest funding round will enable Qomodo to expand its product portfolio to offer a comprehensive ecosystem addressing the administrative and transactional needs of physical merchants. Also, it will leverage advanced AI applications to scale operations and support thousands more merchants across Italy. It will also attract new tech talents to join the team, essential for the development and growth of its services and technologies.
Revolutionises payments for physical merchants
Qomodo was founded in 2023 by seasoned entrepreneurs Gianluca Cocco and Gaetano de Maio in Italy. Its smart payment solution for physical merchants, which improves cash flow and amplifies earnings potential for micro and small businesses.
The company’s digital ecosystem is designed to empower micro and small businesses by improving cash flow and increasing revenue potential. Its flagship product, the Buy Now, Pay Later (BNPL) solution, enables consumers to make flexible, interest-free instalment payments. This not only drives higher sales for merchants but also reduces credit risks. Its smart payment platform further simplifies and secures transactions, helping merchants reduce costs and streamline operations.
Its payment solutions change the lives of companies because they allow them to offer greater convenience and peace of mind to customers in payments, without the risks of financial exposure.
In less than a year, the company claims to serve 2,500 physical merchants, mostly in the country. 20% of Qomodo’s customers now use both its BNPL service and the innovative smart Point of Sale (POS) system, which simplifies payment processes and reduces financial risks for small businesses.
Gianluca Cocco, CEO and Co-Founder of Qomodo, said: “As entrepreneurs with a deep passion for Italy, we saw a real opportunity to bring much-needed innovation to the domestic market. 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 the growth we’ve achieved, but this is just the beginning. With the continued support of both Italian and global investors, we’re poised to reshape payments in Italy.”
Gaetano de Maio, Co-Founder and COO of Qomodo, added: “In just over 12 months, we have raised over 48 million euros, a true record, driven by the strong market demand for innovation—namely, digital payments and BNPL. Today, we serve over 2,500 physical businesses, entrepreneurs, and affiliated professionals, managing millions of euros in transactions each month. Specifically, our solution enables brick-and-mortar stores to leverage innovative payment solutions, thus gaining advantages that were previously exclusive to the online world. At the same time, it offers consumers the ability to complete both essential, unavoidable purchases and services they might otherwise not have acquired, with flexible, instalment-based payment options and BNPL, offered directly by their trusted merchant, with a response time of no more than 45 seconds.”
Investors’ views
Louis Dussart, VP, Europe, RTP Global, commented: “Italy has been waiting for a B2B fintech champion and that’s why we are delighted to back Qomodo. There’s a huge opportunity, given Italy’s significant domestic market and standing as the ‘nation of SMBs’, to revolutionise and enhance in-store shopping experiences – for both retailers and consumers. Gianluca and Gaetano have the vision and the prior experience of scaling start-ups in the region to achieve this potential. We look forward to partnering with them at every stage of their journey.”
Leonardo Maria Del Vecchio, Chairman of LMDV Capital, added: “We are thrilled to announce this investment, a step that represents not only a significant strategic move but also a tribute to the talent and excellence of Italian craftsmanship. We have closely followed Gianluca and Gaetano’s journey from the very beginning, admiring their ability to turn an idea into a tangible project, validate the product in record time, and scale the business with determination and vision. The decision to co-lead this round with RTP Global, one of the most respected international funds, underscores our philosophy: to identify and support Italian champions—local enterprises that not only reflect the excellence of our country but also have the potential to become key players on the global stage.”
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