RITMO, a Madrid-based fintech, and payments company that provides digital entrepreneurs with capital to scale their investment in online marketing campaigns, recently secured over $200 million in debt that will help the company improve its financial operating platform for online sellers by making capital more accessible in Europe and Latin America. Avellino Capital and i80 Group led the funding round, which is one of the largest for an e-commerce fintech in the region. To help e-commerce businesses overcome supply-chain difficulties, manage cash flow, and scale faster, RITMO provides working capital loans and an automated buy-now-pay-later (BNPL) product. RITMO aims to be an integral part of its clients’ day-to-day operations, providing funding for expansion and allowing merchants to extend payment terms to their suppliers.
Madrid FinTech RITMO Grabs $200M+ to Grow eCommerce Financing and Payments Platform