Pomelo Pay, a digital payments startup operating in Singapore and the United Kingdom, has secured $10 million in a Series A round-headed by Inference Partners, a UK-based independent investment firm.
Pomelo Pay previously funded a $2.9 million seed round headed by Force Over Mass, which participated in this round as well.
Pomelo Pay will be able to grow its footprint across worldwide markets, including Europe and Asia, with ambitions to increase its staff in London, Singapore, Vietnam, Thailand, and the Philippines as a result of the investment.
Pomelo Pay, which was launched in 2018, enables retailers to digitize their payment infrastructure and accept payments from anybody, in any place (physical or virtual), at near-zero expenses. Over 30 payment networks are integrated by the organization internationally.
Leading banks and non-banking financial institutions (NBFIs) utilize its payments platform for a much-enhanced acquiring experience, allowing them to provide the largest spectrum of payment acceptance options to their end clients.
In 2021, the firm processed more than $500 million in total payments, and it expects to increase fivefold by 2022. Sonam Bhutia, the former Commercial Director for Alipay in Southeast Asia, has just joined the business as Chief Commercial Officer.
Pomelo Pay employs 50 individuals across its London headquarters and operations in Singapore and Vietnam.
