Tiger Global led a USD35m Series A for Pomelo, an Argentine payments infrastructure platform enabling fintechs to fast-track the launch of prepaid and credit cards, with participation from monashees, Insight Partners, Index Ventures, SciFi, QED Investors, BoxGroup, Greyhound, Gilgamesh Ventures and Clocktower. Sequoia invested USD1m in a seed extension in July; monashees and Index Ventures led the USD9m seed round in May.
(TechCrunch) – Just over five months after raising a $9 million seed funding round, Latin American fintech Pomelo announced today that it is raising $35 million in Series A financing led by Tiger Global Management.
The startup was founded earlier this year to build a fintech-as-a-service platform for Latin America. Its infrastructure aims to allow fintechs and embedded finance players to launch virtual accounts and issue prepaid and credit cards via “compliant” onboarding processes.
It’s impressive just how many high-profile investors the young company has managed to attract in a relatively short amount of time.
Read more at TechCrunch.