Pomelo Secures $35 Million in Series A Funding from Vy Capital and Founders Fund

Quick Summary:

Pomelo, a startup that combines international money transfer with credit, has raised $35 million in a Series A round led by Dubai venture firm Vy Capital, TechCrunch has exclusively learned.

Additionally, the company is announcing a $75 million expansion of its warehouse facility.

In other words, Pomelo can hold funds in the app that effectively can be used to open a credit line.

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Article Details

Author / Journalist: Mary Ann Azevedo

Category: StartupsBusiness

Markets: United StatesMexicoPhilippines

Topics: Founders Fund Fintech Pomelo Fundraising Vy capital Cross-border payments Startups

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-22 @ 18:00:46 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 975 words

Reading Time: 6 minutes read

Sentences: 41 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 20759079

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