Pomelo Raises 40m For Latam Payment Infrastructure Expansion In Brazil Mexico And Colombia
Initially offering prepaid product support in Argentina, Pomelo has diversified to include prepaid, debit, and credit card services across multiple Latin American countries.
The company, which claims a 10x faster market entry compared to traditional methods, now serves over 100 corporate clients, including Rappi and Bitso, achieving a threefold revenue increase in 2023.
Pomelo’s growth includes a significant expansion in processing capacity, reaching 55 million transactions daily. This Series B round, led by Kaszek with participation from monashees and Index Ventures, among others, increases Pomelo’s total funding to $103 million.
The new capital will primarily support expansion in Brazil, Mexico, and Colombia. The company’s payment platform offers both issuing and processing services, leveraging partnerships with Visa and Mastercard, and places a growing emphasis on its credit card management platform, a SaaS tool for comprehensive credit card business management.
