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Fintech firm RITMO gets credited with $200M to help entrepreneurs grow their businesses

Image credits: RITMO

RITMO, a Madrid-based fintech company, announced that it has closed a $200M debt funding round led by i80 Group and Avellinia Capital. Notably, it is one of the largest funding rounds of any e-commerce finance business in Europe and Latin America (LATAM). The Spanish fintech company has raised $225M in debt and equity funding.

How will the funding be used?

The capital will enable RITMO to accelerate growth by funding over 2,000 e-commerce clients over the next 18 months in key European and LATAM countries. 

The funding will also assist RITMO to expand its footprint in new markets through agreements with key players in the payments and e-commerce sectors. 

Raimundo Burguera, CEO and co-founder of RITMO, says, “In less than a year of operations, I am proud to say that RITMO has closed one of the largest funding rounds of any e-commerce financing 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 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. Doing so will reaffirm RITMO’s position as one of the largest and fastest-growing financing and payments platforms at a global scale.”

Provides working capital financing

RITMO was founded by Raimundo Burguera, Iñaki Mediavilla, Iván Peña, and Prageet Sharma in 2021. The company’s mission is to empower entrepreneurs with the tools and capital required to grow their businesses. 

RITMO provides working capital financing and an automated Buy Now, Pay Later (BNPL) payment system for e-commerce businesses to overcome supply chain challenges.

The company says it is committed to making capital more accessible to female entrepreneurs and sustainable-oriented businesses. 

The company has achieved a 12x growth rate with more than 600 loans made in five countries across two continents. RITMO invests €50K to €3M for a flat fee recouped through a revenue share model.

As part of its growth and international expansion strategy, RITMO has inked agreements with major players in the payments and e-commerce sector, with access to more than 150,000 merchants. 

Last month, RITMO partnered with global fintech and international payments service provider, WorldFirst, to launch a £100M growth package for fast-growing e-commerce businesses in the UK and Europe.


Based out of New York, i80 Group provides bespoke financing solutions that are unique to each partner’s needs, advancing them through critical growth milestones. 

Asher Hochberg, Managing Director of i80 Group says, “With the proliferation of the e-commerce marketplace ecosystem in the last few years, we are excited to partner with RITMO on their mission to provide an innovative credit financing solution to e-commerce entrepreneurs opting for non-dilutive growth capital instead of selling their business.”

Avellinia Capital is a private debt investment manager focused on providing creative and flexible asset-based financing solutions to technology companies. 

Christoph Pfundstein, the co-founder of Avellinia Capital says, “We are delighted to, together with i80, provide a flexible multi-jurisdiction and multi-currency financing line to RITMO to support their further growth. We have been very impressed with the RITMO team and their progress thus far and look forward to going on this journey together.”

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