Pomelo's Financial Growth Sparks Investor Interest

Pomelo, a San Francisco-based fintech startup, recently secured $35 million in Series A funding from Vy Capital, Founders Fund, and A* Capital. This investment, along with a $75 million expansion of its warehouse facility, brings Pomelo's total funds raised to $55 million in equity capital and $125 million for its warehouse operations. Led by CEO Eric Velasquez Frenkiel, Pomelo offers a unique financial platform that combines international money transfer with consumer credit, allowing customers to send funds immediately using either a secured or unsecured credit line. Since its launch in 2022, Pomelo has expanded its services to include new payment options, such as the ability to send funds to popular e-wallet GCash in the Philippines. The startup's innovative approach to remittance transfer, using credit as its foundation, has attracted attention from investors and industry experts alike. With plans to expand into Mexico, Pomelo is poised for further growth in the competitive cross-border fintech market.