Qomodo, a new Italian smart payments fintech, has closed a record pre-seed round raising 34.5 million euros. The startup has obtained the trust of Fasanara Capital - main investor - and funds such as Exor Ventures, Proximity Capital, Ithaca Investment, Lumen Ventures, The Techshop, Primo Ventures, as well as foreigners Notion Capital, Octopus Ventures, and Plug&Play.
Qomodo was founded by two entrepreneurs who boast exits in the tech sector in Italy and abroad between 2018 and 2022 and who have already contributed in the past to increasing the turnover of Italian physical merchants through the launch of new technological products to increase sales and digitalise collection processes.
Qomodo positions itself on the digital payments market as an aggregator of payment systems, designed to allow merchants to protect and amplify their cash flow and allow customers to pay in interest-free instalments with the formula Buy Now, Pay Later.
The fintech’s officials said they have developed a new collection product, which offers merchants all the payment solutions needed today: from the traditional POS in the SmartPOS version, to innovative products such as Buy Now, Pay Later, Pay-by-Link, or Tap-to-Phone. Motivated by the first encouraging market signals, the interest aroused in internationally renowned partners and the trust placed in them by investors, they hope to grow and sign hundreds of new merchants per month.
‘Pay with Qomodo’, the Buy Now, Pay Later formula for interest-free instalment payments: the customer chooses the instalment plan and receives approval in about 30 seconds, without providing pay slips or other paper documents.
‘Qomodo POS’, a new generation Android smartPos – which accepts traditional credit/debit cards from the Mastercard, Visa, and ATM circuits.
‘Pay on the fly’, for example, the ‘Digital POS’ mode which allows one to collect payments remotely made through cards with the pay-by-link system for product sales or remote service assistance) or with the ‘Tap -to-Phone’ , a technology that allows Android smartphones to be transformed into POS (called ‘SoftPos’) capable of accepting contactless payments.
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