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Fintech company RITMO has become the latest startup to receive major debt funding for its expansion. According to the company, it secured $200 million in a debt financing round led by i80 Group and Avellinia Capital.
With this funding, the fintech company aims to become a leading financing and payment platform for e-commerce. Founded in 2021, RITMO has so far raised approximately $225 million in debt and equity financing.
In a press release, RITMO also highlighted its rapid expansion over the past few months. Founded by Raimundo Burguera, Iñaki Mediavilla, Iván Peña and Prageet Sharma, the fintech company has achieved a 12x growth rate in the last 7 months.
“In less than a year of activity, I am proud to say that RITMO has closed one of the largest funding rounds of any e-commerce finance company in continental Europe and LATAM, backed by the renowned i80 group and Avellinia Capital. With this new funding, we aim to help thousands of e-commerce entrepreneurs grow rapidly and overcome today’s supply chain challenges by providing them with the capital and tools needed to effectively manage their cash cycles.” , Raimundo Burguera, CEO and co-founder of RITMO, said.
Funding and payments
Asher Hochberg, Managing Director of i80 Group, believes that innovative credit financing solutions for e-commerce entrepreneurs will transform the industry for years to come. In the latest announcement, Burguera also highlighted the company’s mission to become one of the fastest growing financial and payment platforms globally.
Christoph Pfundstein, co-founder of Avellinia Capital, said: “We are delighted, with i80, to provide a flexible multi-jurisdiction and multi-currency line of funding to RITMO to support its future growth. We have been very impressed with the RITMO team and their progress so far and look forward to continuing this journey together.
Fintech company RITMO has become the latest startup to receive major debt funding for its expansion. According to the company, it secured $200 million in a debt financing round led by i80 Group and Avellinia Capital.
With this funding, the fintech company aims to become a leading financing and payment platform for e-commerce. Founded in 2021, RITMO has so far raised approximately $225 million in debt and equity financing.
In a press release, RITMO also highlighted its rapid expansion over the past few months. Founded by Raimundo Burguera, Iñaki Mediavilla, Iván Peña and Prageet Sharma, the fintech company has achieved a 12x growth rate in the last 7 months.
“In less than a year of activity, I am proud to say that RITMO has closed one of the largest funding rounds of any e-commerce finance company in continental Europe and LATAM, backed by the renowned i80 group and Avellinia Capital. With this new funding, we aim to help thousands of e-commerce entrepreneurs grow rapidly and overcome today’s supply chain challenges by providing them with the capital and tools needed to effectively manage their cash cycles.” , Raimundo Burguera, CEO and co-founder of RITMO, said.
Funding and payments
Asher Hochberg, Managing Director of i80 Group, believes that innovative credit financing solutions for e-commerce entrepreneurs will transform the industry for years to come. In the latest announcement, Burguera also highlighted the company’s mission to become one of the fastest growing financial and payment platforms globally.
Christoph Pfundstein, co-founder of Avellinia Capital, said: “We are delighted, with i80, to provide a flexible multi-jurisdiction and multi-currency line of funding to RITMO to support its future growth. We have been very impressed with the RITMO team and their progress so far and look forward to continuing this journey together.
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