Qomodo, the Milan-based “all-in-one” smart payment solution for physical merchants, announces it has raised €13.5 million in Series A funding in order to develop AI tools aimed at expanding its portfolio.

The round was co-led by RTP Global and LMDV Capital, with participation from Proximity Capital, Primo Capital as well as other notable investors including the founders of FACEIT, Fiscozen and Freetrade (the latter through Lumen Ventures).

This builds on previously raised capital at the pre-seed level which included participation from the Elkann-Agnelli, Berlusconi, and Moratti family offices. It brings the total funds raised by Qomodo within just 12 months of its launch to €48 million (€18 million of equity, €30 million of credit facility).

Gianluca Cocco, CEO and Co-Founder of Qomodo, shared: “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.”

Founded in 2023 by seasoned entrepreneurs Gianluca Cocco and Gaetano De Maio, Qomodo is an innovative fintech company with a team of 50. Qomodo offers seamless, all-in-one payment solutions designed to simplify and enhance the transaction experience for both merchants and consumers, supporting both in-store and remote payments.

With a focus on maximising revenue and supporting business growth for physical merchants, Qomodo’s technology empowers over 2,500 businesses—from beauty centres to dental practices, veterinary clinics, and auto repair shops—by delivering secure, reliable revenue collection tools.

Qomodo’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. Qomodo argues that this not only drives higher sales for merchants but also reduces credit risks.

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, and leverage advanced AI applications to scale operations and support thousands more merchants across 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. […] 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.”

In about 12 months, since launching the platform Qomodo has achieved the following key milestones:

• +500% Customer Growth: Qomodo has grown its customer base fivefold in less than a year, now supporting over 2,500 merchants.
• Comprehensive Product Suite: 20% of Qomodo’s customers now use both its BNPL service and the smart Point of Sale (POS) system, which simplifies payment processes and reduces financial risks for small businesses.
• Next-Gen Solutions: Qomodo’s Buy Now Pay Later (BNPL) product is transforming how merchants and their customers interact, allowing flexible, interest-free instalment payments. This has been impactful for consumers facing unexpected costs, such as vet bills or large one-time purchases, while reducing the credit risk for small businesses.

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, concludes: “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.”