Pomelo Raises $70M in Funding
Summary
Pomelo, a San Francisco, CA-based fintech startup that combines credit and international money transfer, raised $20m in venture capital and $50m in warehouse facility for a total of $70m in seed financing. Keith Rabois at Founders Fund as well as Kevin Hartz, Co-Founder of Xoom and General Partner, at A* Capital led the round with Afore Capital, Xfund, Josh Buckley, the Chainsmokers, and the Weeknd also investing in the round. The company also announced its official launch and availability to serve its first corridor, the Philippines. U.S. citizens and permanent residents 18 years and older can apply for the Pomelo Mastercard and invite their loved ones abroad to join their family plan. Prior to founding Pomelo, Frenkiel co-founded Singlestore, now valued at over $1 billion, which he led as CEO from 2011 to 2017.
Funding
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