Singapore’s Pomelo Group acquires paytech start-up Arrow Checkout
Singapore-based payment infrastructure platform Pomelo Group has acquired Arrow Checkout, an e-commerce and checkout payments technology provider also based in Singapore, for an undisclosed sum.
Pomelo Group buys Arrow Checkout
Arrow’s checkout solution is designed to enable direct-to-consumer (D2C) brands in Southeast Asia to accept purchases across all sales channels, payment gateways and local payment methods, including bank transfers, cash-on-delivery, e-wallets and buy now, pay later (BNPL) options.
Founded by CEO Neo Liat Beng, COO Sebastian Roervig and CTO Sudhan Raj in 2021, the start-up previously received investment from venture capital firm Y Combinator and last raised $4.8 million in a 2022 seed funding round led by Peak XV (formerly Sequoia India).
With the acquisition, Arrow’s founders are now set to join the Pomelo team. Beng will take on the chief product officer role at Pomelo, Roervig becomes VP of sales and business development, while Raj is to join the engineering team.
Beng and Roervig are already familiar with Pomelo Group’s CEO Steve Vickers, as the three used to work together at ride-hailing company Grab in 2018. Vickers was appointed CEO of Pomelo Group last year.
In comments, Beng says the consolidated companies will work together to create a “payments infrastructure platform for emerging markets” through the combination of both Arrow’s technology and Pomelo Group’s B2B platform solutions.
Endre Sagi, executive chairman of Pomelo Group, adds that the acquisition “strengthens the Pomelo platform’s position and accelerates our growth prospects”.
