E-commerce finance firm RITMO has had an impressive year. Since its founding in 2021, the company has raised $225 million in debt and equity funding, which it has used to issue hundreds of loans to fintech startups across Europe and Latin America. During that time, it has built partnerships with hundreds of thousands of merchants, growing twelvefold.
As of April 2022, RITMO has a massively expanded war chest to use to build on its already considerable footing in the fintech capital solutions world. This investment, which takes the form of debt financing led by Avellinia Capital and i80 Group, is one of the largest-ever funding rounds for an e-commerce finance business in the region, and is expected to fuel RITMO’s continued international expansion.
“With this new funding, we aim to help thousands of e-commerce entrepreneurs scale up rapidly and overcome the current supply chain challenges by providing them with the capital and tools to effectively manage their cash flow cycles,” said RITMO’s Chief Executive Officer and Co-founder Raimundo Burguera. “Doing so will reaffirm RITMO’s position as one of the largest and fastest growing financing and payments platforms at a global scale.