Pomelo
6 known investors
Pomelo is a San Francisco fintech combining international money transfers with consumer credit lines and a Mastercard card.
Also known as Pomelo, Inc.
Founders & leadership
Investors · 6
Also in the syndicate · 1
Company profile
researched Aug 2026Pomelo is a financial technology company headquartered in San Francisco, California, that combines cross-border money movement with consumer credit. Its remittance product lets US-based customers send funds immediately using either a secured or unsecured credit line, allowing senders to build credit history through their remittance spending and repayment obligations — an approach positioned as a first within the remittance category.
The product family centers on the Pomelo Card, a Mastercard-branded card that recipients abroad can use directly, which the company highlights for use cases such as presenting proof of payment where local systems require it. Pomelo has progressively added payout instruments alongside the card, including the ability to send funds to GCash, an e-wallet widely used in the Philippines. Banking services are provided by Coastal Community Bank (Member FDIC), and the Pomelo Card is issued by Coastal Community Bank under license from Mastercard International.
Founding story
Founded in 2020 by Eric Velasquez Frenkiel, who serves as CEO, Pomelo set out to pair cross-border money transfer with consumer credit, launching its first corridor to the Philippines in 2022.
Business model
Pomelo operates a consumer fintech platform in which international transfers are funded by credit lines extended to the sender, pairing money movement with credit products and a card issued through a partner bank. Alongside venture equity, the company finances its credit exposure through a warehouse facility, which totaled $125 million after a $75 million expansion announced in April 2024.
Traction
Pomelo launched in 2022 and had raised $55 million in equity and secured $125 million in warehouse facilities as of April 2024; it was included in Notable Capital's Innovation 50 List for 2024.
Latest developments
In April 2024 Pomelo announced a $35 million Series A alongside a $75 million warehouse facility expansion from Vy Capital, Founders Fund and A* Capital, and launched the ability for customers to send funds directly to GCash in the Philippines.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Pomelo positions itself as the first consumer fintech to combine international money movement with consumer credit, addressing what it describes as a $650 billion global remittance industry. It was named to Notable Capital's Innovation 50 List for 2024, a ranking of fintech companies identified as promising by investors.
Rather than transferring pre-funded balances, Pomelo underwrites transfers with secured or unsecured credit lines, so customers can send funds immediately and establish credit history from their remittance activity.
Technology
Pomelo's platform links a consumer credit line to international transfers, supporting a card product issued via Coastal Community Bank under Mastercard licensing plus payouts to local e-wallets including GCash.
Go-to-market
Pomelo distributes its service directly to consumers through its app and card product, adding payout rails such as GCash to broaden acceptance for recipients in destination markets.
US-based consumers sending money abroad to family members, initially serving the United States–Philippines corridor, along with the overseas recipients who use the Pomelo Card or receive funds via e-wallets such as GCash.
Geography
Headquartered in San Francisco, California, serving US senders with the Philippines as its first corridor.
History
Pomelo was founded in 2020 by Eric Velasquez Frenkiel and launched its product in 2022, starting with the Philippines as its first remittance corridor. It subsequently expanded its payout options, including sending directly to the GCash e-wallet. In April 2024 the company announced a $35 million Series A together with a $75 million warehouse facility expansion, bringing cumulative totals to $55 million in equity and $125 million in warehouse capacity.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 4
launches, deals, and filingsAlongside its Series A, Pomelo announced a $75 million expansion of its warehouse facility from Vy Capital, Founders Fund and A* Capital, bringing warehouse capacity to $125 million and total equity raised to $55 million.
$75M source ↗
Pomelo was included in Notable Capital's Innovation 50 List, described as highlighting 50 fintech companies seen as promising by investors.
Pomelo launched the ability for customers to send funds directly to GCash, an e-wallet widely used in the Philippines, complementing its card product.
Pomelo launched its credit-based remittance product in 2022, beginning with the United States–Philippines corridor.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Pomelo Unified Payment Platform | Platform as a Servicepomelogroup.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Pomelo do?
- Pomelo is a San Francisco fintech combining international money transfers with consumer credit lines and a Mastercard card.
- Who founded Pomelo?
- Pomelo was founded by Eric Velasquez Frenkiel.
- Who are Pomelo's investors?
- Pomelo's investors include A*, Mantis Capital, Afore Capital, Insight Partners, Xfund.