Pomelo, an Argentinian payments infrastructure firm, has successfully secured $40 million in a Series B funding round led by venture capital firm Kaszek.
The funding round saw participation from several investors including Monashees, Index Ventures, Insight Partners, Endeavor Catalyst, S32, TQ Ventures, and Alter Global. This latest investment brings Pomelo’s total funding to $103 million since the company’s inception in 2021.
Founded by veterans from Mastercard, Mercado Pago, and Naranja X, Pomelo enables clients to launch credit, debit, or prepaid card businesses across multiple countries within weeks, all through a single technological integration. The company operates in Colombia, Argentina, Brazil, Chile, Mexico, and Peru, serving hundreds of corporate clients, including banks, multinational companies, and tech startups such as Rappi, Bitso, Stori, Lulobank, Nomad, Payjoy, Ripio, and AstroPay.
After experiencing a sevenfold increase in payment volume in 2023, Pomelo aims to utilize the new funding to double its business within the next year. Nicolas Szekasy, managing partner at Kaszek, commented on Pomelo’s progress, stating, “The company has demonstrated exceptional traction in a very short period of time, confirming the superiority of its technological solution and the great execution capacity of this team of entrepreneurs whom we have known for years.”
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