TLDR: Pomelo secures $35m in Series A funding to enhance global remittance services
- Pomelo secures $35m in Series A funding round led by Vy Capital, Founders Fund, and A* Capital.
- Funds will be used to expand credit-building remittance product and improve access to financial services worldwide.
Pomelo, a FinTech company, recently closed a Series A funding round, raising $35m in venture capital. The company is known for integrating consumer credit with international money transfers, addressing significant needs in the remittance market. The funds will primarily be used to expand Pomelo’s credit-building remittance product, aiming to enhance the platform’s capabilities and reach. This strategic investment highlights Pomelo’s commitment to redefining the remittance sector through technology-driven solutions.
CEO Eric Velasquez Frenkiel expressed the company’s mission to connect families and help more customers and their loved ones worldwide. With previous successful fundraising rounds, Pomelo has consistently secured investments to bolster its innovative services. The company is focused on technological upgrades and market expansion to better serve its growing customer base.
