Pomelo

Pomelo is a fintech company that aims to modernize the international money transfer and payments industry, particularly in Latin America. The company was founded in 2021 and is headquartered in Buenos Aires, Argentina. Pomelo offers a payment platform that allows businesses and individuals to launch virtual accounts, issue prepaid and credit cards, and facilitate cross-border money transfers.

Pomelo's core product is a credit card solution that combines international money transfer with credit. Users in the US can apply for a Pomelo Mastercard and invite their loved ones abroad to join their family plan. Pomelo sends virtual and physical cards to the recipients, enabling them to make online and in-person purchases. The company ensures competitive foreign exchange rates and eliminates transfer fees for its customers.

For users with low or no credit history, Pomelo offers a secured credit card version, allowing them to establish or build credit with the funds they would typically remit. The company generates revenue primarily through interchange fees paid by merchants, rather than charging customers transfer fees.

Pomelo has expanded its platform to support multiple countries in Latin America, including Argentina, Brazil, Chile, Colombia, Mexico, and Peru. The company has over 100 corporate clients, including banks, multinational companies, and technology startups such as Rappi, Bitso, Stori, Nomad, PayJoy, AstroPay, and Lulobank. Pomelo has raised over USD 103 million in funding from investors like Kaszek, monashees, Index Ventures, and Endeavor Catalyst.