Fasanara Capital is an independent, owner-managed alternative asset management company authorized and regulated by the Financial Conduct Authority. The firm was founded in 2011 by Francesco Filia and is headquartered in London, England, United Kingdom.

Fasanara Capital

Notion is an entrepreneur-led venture capital firm that focuses on high potential businesses in the Cloud Computing and Software-as-a-Service (SaaS) markets. It is an early-stage venture fund that focuses mainly on technology and cloud computing markets. The firm helps European tech companies fulfill their potential and achieve a massive scale. Notion invests early when it can build strong relationships and help to shape the future success of its companies. Notion Capital was founded in 2009 and is headquartered in London, England.

Notion Capital

Plug and Play is a seed and early-stage investor focused on great teams leading emerging growth companies.  Plug and Play runs 12 industry-specific accelerator programs twice a year, that acts as a platform for major corporations and high quality startups to connect and collaborate.  Located in the heart of Silicon Valley, Plug and Play participates in Seed, Angel and Series A funding where they often co-invest with their strategic partners. Through years of experience and as part of their network, Plug and Play has put together a world-class network of serial entrepreneurs, strategic investors, and industry leaders who actively assist the firm with its successful and growing investment portfolio.  SEED ROUND. Plug and Play participates in seed round investing through a program called Startup Camp. Startup Camp is a 10-week program based in Silicon Valley for top-notch entrepreneurs to work intensively on building out their business model. Select startups will refine their business models and prototypes with help from a combination of structured workshops, speaker series and mentorship sessions, as well as active coaching from their investment team. At the culmination of Startup Camp, founders will have crystalized their business plans and pitched their company to the venture capital community at EXPO Demo Day.''  ANGEL ROUND Plug and Play makes angel round investments throughout the year, sourced from their monthly Plug and Play Angels (PAPA) sessions. They are partnered with local angel investors in Silicon Valley who participate in PAPA to find the most promising startups and best new technologies.  SERIES A. Series A typical Series A round is in the range of $2 million to $10 million, and is intended to provide operating capital for the company for six months to two years. This round capitalizes the company as it develops its products, performs initial marketing and branding, acquires talent, and conducts other early-stage business operations. It is in this stage that Plug and Play will co-invest with over 180 venture capital partners.  Plug and Play has helped grow market leaders such as PayPal, Danger, Google, DropBox, LendingClub, Zoosk, SoundHound, CreditSesame, Skytree, and has over 400 more early-stage startups in its portfolio.

Plug and Play

Octopus Ventures is a venture capital firm that offers support to companies at various stages of their journey, from idea conception to IPO. They allocate over £200 million annually to invest in sectors such as health, fintech, deep tech, consumer, and B2B software, with a focus on making a positive impact. Their experienced team assists portfolio companies in scaling rapidly. Octopus Ventures' investment philosophy extends beyond monetary support, involving time, energy, and focus to work closely with founders for success. Notable companies they have backed include ManyPets, Cazoo, Depop, Elvie, and WaveOptics. Their operations span London and New York, with a network of partners in the U.S. and Asia.

Octopus Ventures

Primo Capital is a venture capital firm focused on seed and early stage startups. The firm manages two funds focused on the digital sector and one fund specializing in the new space economy.

Primo Capital

Exor Ventures is the venture capital arm of Exor, one of Europe's largest diversified holding companies. Exor Ventures focuses on early and growth-stage investments in technology-driven companies across various sectors, including digital services, fintech, cybersecurity, and mobility. Exor Ventures leverages its strategic insights and global network to identify promising startups with disruptive potential and supports them through funding, mentorship, and access to its extensive resources.   EXOR Seeds offers a truly different type of partnership to the select group of entrepreneurs that it backs: - As a fifth-generation family-led business, we proved that we are builders not traders; - Our permanent capital allows us to take a long-term view and put the interest of the companies We invest in first; - Our global network, across industries and geographies, is a unique advantage to entrepreneurs

Exor Ventures

Ithaca Investments is a Family Investment Office firm mainly focused on early-stage opportunities.

Ithaca Investments

Lumen Ventures is a venture capital firm that focuses on early-stage investments.

Lumen Ventures

The Techshop is a venture capital and private equity firm that invests in B2B digital startups.

The Techshop

Proximity Capital aims to recognize and empower visionary entrepreneurs to forge the future by fostering innovation and driving transformative change believing in the power of proximity, cultivating a dynamic connection with extraordinary founders aiming to build legendary companies that reshape industries and leave a lasting positive impact on the world.

Proximity Capital

qomodo

Qomodo is an ''all-in-one'' payment methods aggregator, allowing physical commercial operators to safeguard and expand their cash flow and offer Buy Now Pay Later payments to customers, in addition to one-time payments. Qomodo focuses on merchants providing services for essential yet often unforeseen expenses, which typically involve a higher transaction value.

Milan-based Qomodo offers a range of payment solutions, including payment processing, collections, SmartPOS with card acceptance, Pay-by-Link, Tap-to-Phone, and flexible payment options for small businesses, merchants, retail chains, and customers. It also offers an embedded flexible payment solution that integrates with business management software to facilitate specific payment options such as Tap-to-Phone and Pay-by-Link with a customizable checkout experience for customers. Qomodo's services aim to improve cash flow and earnings potential by offering flexible and convenient payment methods to customers. The platform claims to offer merchant activation times of less than 48 hours and an average payment approval speed of 60 seconds.

Buy Now, Pay Later

Qomodo

qomodo raises £1.3M for advanced IoT cybersecurity solutions

Milan-based Qomodo offers a range of payment solutions, including payment processing, collections, SmartPOS with card acceptance, Pay-by-Link, Tap-to-Phone, and flexible payment options for small businesses, merchants, retail chains, and customers. It also offers an embedded flexible payment solution that integrates with business management software to facilitate specific payment options such as Tap-to-Phone and Pay-by-Link with a customizable checkout experience for customers. Qomodo's services aim to improve cash flow and earnings potential by offering flexible and convenient payment methods to customers. The platform claims to offer merchant activation times of less than 48 hours and an average payment approval speed of 60 seconds.Key customers and partnershipsAs of November 2023, Qomodo had over 500 partner merchants using its solution and planned to onboard thousands of merchants, including small businesses and major retail chains, through API-based integrations.Funding and financialsIn November 2023, Qomodo raised EUR 34.5 million (~USD 36.9 million) in <a href="https://sp-edge.com/updates/23841">seed funding</a> led by Fasanara Capital. The company did not disclose what the funds would be used for.

Openpay is an Australian BNPL platform launched in 2016 offering flexible payment plans with deferments ranging between 2-24 months for transactions from AUD 50 to AUD 20,000 (approximately USD 36-USD 14,600). The platform focuses on the automotive, healthcare, home improvement, memberships, and education industries. In December 2019, Openpay was listed on the Australian Securities Exchange, raising AUD 50 million (approximately USD 35 million) in the process. This was roughly two years after it had to abruptly cancel its initial IPO plans and raised AUD 10 million (approximately USD 8 million) instead.Openpay’s B2C solution offers equal weekly and bi-weekly installment plans at no interest, with longer terms typically offered for larger ticket purchases. Its proprietary risk management technology drives the platform’s credit decisions, and it integrates with leading e-commerce platforms such as Shopify, PrestaShop, Magento, and WooCommerce. Furthermore, Openpay has a B2B trade account management solution that is separate from its BNPL service.Openpay generates revenue through merchant fees, which represent a percentage of the transaction value, customer fees (including late fees), an initial establishment fee, and a recurring plan management fee.Initially available in Australia and New Zealand, Openpay expanded its operations to the UK in June 2019, followed by a US launch in December 2020 under the brand Opy. However, it withdrew from the UK BNPL market in March 2022 citing its inability to compete in the market. It also revealed that it will continue to offer longer-term repayment plans for dental procedures and car repairs in the UK through partnerships.Key customers and partnershipsIt entered the veterinary market in the US via a partnership with ezyVet, which provides cloud-based software for veterinary professionals, and its plans are expected to be available on ezyVet platforms by early FY2022 in the US. It partnered with contactless payments firm Everyware in <a href="https://sp-edge.com/updates/5954">October 2021 </a>to offer the first-ever Pay-by-Text BNPL solution, followed by a tie up with American Express in <a href="https://sp-edge.com/updates/7084">December 2021 </a>.Openpay secured a strategic partnership with the payments processor Worldpay and Cross River Bank. As a result, Openpay’s payment plans were integrated with Worldpay’s payment gateway as the merchant acquirer for Openpay in the US, while Cross River was expected to serve as <a href="https://sp-edge.com/updates/5806">Openpay’s lender </a>for consumer financing loans to US customers, meaning it will fund and originate all loans on Openpay’s US platform. However, in July 2022, Openpay announced that it’s ceasing operations in the US market owing to economic headwinds stemming from rising interest rates and deteriorating consumer sentiment.

Openpay

PrimaHealth Credit (PrimaHealth) is a BNPL solution designated for elective medical procedures such as cataract surgery, orthodontic work, dental care, LASIK, and addiction treatment. PrimaHealth’s credit decision-making is handled in-house using proprietary credit underwriting models. With PrimaHealth, patients would pay 25% to 50% of the cost upfront, and the residual cost, running from USD 300 to USD 24,000, can be repaid over 2-4 months. PrimaHealth’s interest rates range from around 0% to 25% APR with an average loan size of USD 1,800 across all types of procedures.As of December 2020, PrimaHealth was available in Arizona, California, Florida, Oklahoma, and Texas, and plans to expand across all 50 states by 2021.

PrimaHealth Credit

Laybuy is a New Zealand-based BNPL provider offering its services in Australia, the US (beta launched in December 2020), and the UK through a partnership with the streetwear retailer Footasylum in 2019. The platform partners with Experian, a multinational credit bureau, to help with its credit decision-making. Through Laybuy, users can make online or in-store purchases over six weekly payments with no interest charges if paid on time. The in-store offering is facilitated by Laybuy’s “Tap to Pay'' digital card, available in Australia and New Zealand as of March 2021 and launched in August 2021 in the UK. The platform has an average customer transaction limit of GBP 240, and any missed payments will result in the user account being suspended and a late fee of USD 10.In FY2022, the platform reported gross merchandise volume (GMV) of NZD 868 million (~USD 600 million), reflecting 47% YoY growth. The platform’s revenue grew by 45% YoY to NZD 47.1 million (~USD 32.8 million). The UK operation accounted for the majority (~60%) of GMV in FY2022, improving on its ~50% share last year. The company also revealed that total active customers increased 23% YoY to 931,000, while total active merchants grew 50% YoY to 13,700. Laybuy was listed on the ASX from September 2020 to March 2023, after which it was <a href="https://sp-edge.com/updates/15915">delisted</a>.Laybuy issued <a href="https://sp-edge.com/updates/30597">receivership notice</a> in June 2024 due to financial pressures and economic challenges affecting its operations in New Zealand and Australia. The company stated that Laybuy Group Holdings Limited, Laybuy Holdings Limited, and Laybuy Australia Pty Limited were placed for receivership on 17 June and that its UK entities remain unaffected.Key customers and partnershipsIn May 2023, <a href="https://sp-edge.com/companies/976316">​​ </a>Laybuy collaborated with New Zealand-based Centrix, a credit bureau, to develop a credit reporting system, <a href="https://sp-edge.com/updates/18326">PayWatch </a>. The company also <a href="https://sp-edge.com/updates/18595">partnered with Eventfinda </a>, an event ticketing and marketing platform, to embed its BNPL solution and offer flexible payment options for event tickets. Laybuy secured partnerships with merchants such as Rakuten, AWIN, and Sovrn, giving users access to more than 5,000 merchants in the UK, including WHSmith, Asos, Nike, Marks &amp; Spencer, Amazon, and eBay.

Laybuy

Tamara is a Saudi Arabian BNPL platform provider offering customers the option to pay in 30 days or in three installments over 60 days at zero interest, making it Shariah-compliant. Tamara settles payments with merchants weekly for a commission-based fee, charging a late payment penalty of SAR 25 (approximately USD 7) from customers. These charges are capped at a lower rate between SAR 150 or 25% of the total transaction value. In September 2020, Tamara established a partnership with the e-commerce platform Salla, extending its reach to more than 10,000 merchants on the platform. As of June 2021, it operates in Saudi Arabia and the UAE with offices in Germany and Vietnam. In July 2023, Tamara <a href="https://sp-edge.com/updates/19954">secured a permit </a>to operate its flexible payment services from the Saudi Central Bank following a trial period of operation within the Saudi Arabian regulatory framework.Key customers and partnershipsThe company claims to be the market leader in the BNPL space in Saudi. It reported that its transaction volume grew 170% month-on-month and its customer base increased 180% month-on-month over the six months preceding its Series A round. As of January 2023, the platform had serviced over 9 million registered users and had over 30,000 merchant partners, including partnerships with firms such as IKEA, Jarir, Shein and Namshi.<a href="https://sp-edge.com/updates/27305">In March 2024</a>, Tamara partnered with UK-based <a href="https://sp-edge.com/companies/615710">Uqudo</a>, a digital identity verification platform, to enhance privacy and security on digital transactions. <a href="https://sp-edge.com/updates/25271">In January 2023</a>, the company partnered with Egypt-based <a href="https://sp-edge.com/companies/497895">Paymob</a>, a payment gateway platform, to provide an integrated solution that facilitated installment payments for customers in the Gulf Cooperation Council (GCC) region.Funding and financialsIn <a href="https://sp-edge.com/updates/24016">November 2023</a>, Tamara secured up to USD 250 million in debt financing from Goldman Sachs and Shorooq Partners. It comprises an incremental debt financing of USD 200 million of senior debt provided by Goldman Sachs (bringing its senior warehouse facility up to USD 350 million, an increase from USD 150 million raised in <a href="https://sp-edge.com/updates/17139">March 2023</a>) and USD 50 million mezzanine tranche led by Shorooq Partners, which brings the total warehouse facility up to USD 400 million. The company earmarked the funds to service its growing BNPL product demand and invest in developing new products and services.

Tamara

Fly Now Pay Later is a UK-based consumer credit provider regulated by the Financial Conduct Authority. The platform provides its services exclusively to the travel sector through a direct-to-consumer app (Anywhere) and an integrated checkout solution. The platform allows consumers to spread the cost of travel over a maximum of 12 months, with a limit of GBP 3,000 (approximately USD 4,200). The plans’ interest rates vary depending on the applicant's borrowing history; therefore, users may incur a one-off credit transaction fee. The payment plans can be applied to flight bookings, hotels, and car hires.The company has partnered with travel brands such as Lastminute.com, TravelUp, Kayak, LycaFly, and Trivago.The company secured GBP 55 million (approx. USD 75 million) in <a href="https://sp-edge.com/updates?industryIds=58">debt funding </a>from Atalaya Capital Management. The round follows its extended Series A round worth GBP 10 million (approx. USD 14 million) in May 2021. The debt infusion is earmarked to support its expansion efforts in the US, which it entered into in 2020.

Fly Now Pay Later

The providers plug into merchant checkouts and convert business purchases into installments.

These platforms integrate with the merchant’s e-commerce checkout and primarily offer the BNPL solution through their app. Consumers are restricted to shopping at merchants integrated with the provider in most cases.

These providers integrate with the merchant’s e-commerce checkout. The service is offered through the provider’s app or a virtual card that facilitates in-store application, including non-partnered retailers.

These companies offer merchants and financial institutions a white-label product to provide in-house BNPL solutions.

Solutions can use AI/ML to improve the quality of underwriting tools used in assessing consumers

Use of blockchain technology for customer screening is an emerging area

<div>
<ul>
<li>Milan-based BNPL provider Qomodo has raised €34.5 million in seed funding. The round was led by Fasanara Capital and included participation from Exor Ventures, Proximity Capital, Ithaca Investment, Lumen Ventures, and others.</li>
<li>No details on the use of funding were provided by the company.</li>
<li>The platform currently has over 500 partner merchants and plans to onboard more, including small businesses and major retail chains.</li>
<li>Founded in 2023, Qomodo offers a range of payment solutions, including payment processing, collections, SmartPOS, Pay-by-Link, Tap-to-Phone, and flexible payment options for small businesses, merchants, retail chains, and customers.</li>
</ul>
</div>

Qomodo

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