Pomelo raises $40m in equity to help more businesses in Latin America accept payment cards

Pomelo, which is based in Argentina and also has offices in four other South American countries and Mexico, recently closed its Series B funding round. The company helps other companies accept their customers’ credit, debit and pre-paid cards, including through partnerships with the US-based payments firms Mastercard and Visa. The new investments in Pomelo, which total USD 40 million, bring its total amount raised to USD 103 million since the launch of the company in 2021. Kaszek, an investor in technology in Latin America, led the funding round, with participation from multiple other firms, including Brazil-based Monashees. Each of these investors will take a seat on Pomelo’s board of directors.