LatAm fintech Pomelo raises $35m in Series A round led by Tiger Global
Latin American fintech Pomelo has secured $35 million in a Series A funding round led by Tiger Global Management.
Writing in a LinkedIn post, the company claims the raise is “one of the largest Series A investment rounds in the history of Latin America”.
TechCrunch reports that venture capital firms Insight Partners, Index Ventures, monashees, SciFi, QED Investors, BoxGroup, Greyhound, Gilgamesh Ventures and Clocktower also participated.
Pomelo offers infrastructure and financial services to fintechs and embedded finance firms which allows them to issue prepaid and credit cards and launch digital accounts.
The company writes on its website that it believes “every company will be a fintech” and its goal is to “facilitate that path by providing the necessary technology”.
The fintech launched in Argentina earlier this year, where it was granted a Mastercard and payments licence.
Pomelo says it is now expanding its operations to Brazil and Mexico “to continue accelerating our mission to create the new financial services infrastructure that our region deserves”.
The company is also opening up 150 new positions as it looks to grow its staff and further develop its product suite.