The funding will be used to support RITMO's growth, ensuring capital is available to fuel the funding of over 2,000 ecommerce clients in key European and LATAM countries. The funding will also assist with RITMO’s global expansion strategy and plans to launch in new markets through agreements with key players in the payments and ecommerce sectors.
Founded in 2021 RITMO is a fintech platform that provides working capital financing and an automated Buy Now, Pay Later (BNPL) payment system for ecommerce businesses to overcome supply chain challenges, ensuring they can manage cash flow and scale. Through this range of products, RITMO is embedded in the day to day operations of its clients, offering financing for growth and enabling merchants to extend payment terms with suppliers.
As part of its growth and international expansion strategy, RITMO has secured agreements with players in the payments and ecommerce sector, with access to more than 150,000 merchants. In March 2022, RITMO partnered with fintech and international payments service provider, WorldFirst, to launch a GBP 100 million growth package for fast-growing ecommerce businesses in the UK and Europe.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now