Pomelo Pay raises $10m Series A round led by Inference Partners to drive global expansion
The investment round was led by Inference Partners with participation from Force Over Mass.
Pomelo Pay provides digital payment infrastructure allowing banks and financial institutions to modernise transaction services. The company connects merchants to over 30 payment networks globally.
Digital payments provider Pomelo Pay has secured a Series A investment led by Inference Partners, alongside participation from Force Over Mass. The fresh capital will be deployed to accelerate product development, expand the workforce, and scale operations across European and Asian markets. The funding follows strong transaction growth for the firm, which recently crossed $500m in total payments processed for 2021.
Founded in 2018, Pomelo Pay allows financial institutions and merchants to digitise payment acceptance through cloud-based API solutions. The company intends to strengthen its regional headquarters in Singapore and build out its presence in territories including the UK, Vietnam, Thailand, and the Philippines.
From the founder
"This investment from Inference Partners comes at an opportune time where businesses and SMEs in Southeast Asia have become accustomed to selling on digital platforms. We plan to capitalise on the huge pace of growth and adoption by partnering banks and NBFIs from emerging markets to offer merchants easy and affordable payment solutions to help them innovate their business and grow their customer base."
Vincent Choi
CEO and Co-founder at Pomelo Pay
Use of funds
- 01Continue product development
- 02Grow the team
- 03Expand into international markets
Investors
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About the company
Pomelo Pay
Digital payments platform enabling merchants and financial institutions to modernise transaction infrastructure.