Fundraising FoxPomelo
London · Founded 2021 · 24 known investors
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Pomelo is a San Francisco fintech combining international money transfers with consumer credit lines and a Mastercard card.
Also known as Pomelo · Pomelo International · Pomelo, Inc.
Founders & leadership
Pomelo was founded in 2021 by Gaston Irigoyen, Juan Fantoni, Hern?n A. Corral, and Eric Velasquez Frenkiel.
Investors · 24
How we know: A*'s portfolio page · the VCSheet dataset · Not right? Tell us
How we know: Insight Partners's portfolio page · funding news · insightpartners.com · Not right? Tell us
How we know: Mantis Capital's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: S32's portfolio page · insightpartners.com · Not right? Tell us
How we know: insightpartners.com · Not right? Tell us
How we know: the VCSheet dataset · research · prnewswire.com · Not right? Tell us
How we know: press coverage · Not right? Tell us
How we know: press coverage · Not right? Tell us
How we know: press coverage · Not right? Tell us
How we know: insightpartners.com · Not right? Tell us
How we know: research · o.parsers.vc · Not right? Tell us
How we know: insightpartners.com · Not right? Tell us
How we know: press coverage · Not right? Tell us
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How we know: press coverage · Not right? Tell us
How we know: the VCSheet dataset · research · prnewswire.com · Not right? Tell us
Also in the syndicate · 4
Funding
SEC filings, press & company announcements$159.4M disclosed across 3 of 5 rounds · 2021–2026
- $55MSeries CJan 2026 · 2 sources
Insight Partners (lead), Kaszek (lead), Adams Street Partners, Endeavor Catalyst, Index Ventures, monashees, S32, TQ Ventures
Source ↗
▶$59.3MraisedJan 2024 · 22 investors · OtherRule 506(b)
- Hernan Alberto CorralDirector
- Tomas Maria Gutierrez RueggExecutive Officer
- Gaston IrigoyenExecutive Officer, Director
- Juan Francisco FantoniDirector
- Offering amount
- $59.3M
- Amount sold
- $59.3M
- First sale
- Dec 2023
- Incorporated
- Corporation, United Kingdom, 2021
- Federal exemptions
- 06b
▶$45MraisedNov 2021 · 61 investors · OtherRule 506(b)
- Gaston IrigoyenExecutive Officer, Director
- Juan FantoniDirector
- Hern?n A. CorralDirector
- Tomas Maria Gutierrez RueggExecutive Officer
- Offering amount
- $45M
- Amount sold
- $45M
- First sale
- Oct 2021
- Incorporated
- Corporation, United Kingdom, 2021
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
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 15 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 · 12
launches, deals, and filingsZepz, the payments group behind WorldRemit and Sendwave, acquired Pomelo's product and team to extend beyond remittances into cards, consumer credit and credit-building services, strengthening its position in the Philippines. The Pomelo product was temporarily paused for customers during integration, with no relaunch timeline given.
Pomelo and cross-border money movement company Thunes announced a partnership to introduce a credit-based digital wallet solution for international money transfer.
Alongside 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 announced a $35 million Series A from Vy Capital, Founders Fund and A* Capital, together with a $75 million expansion of its warehouse facility, bringing totals to $55 million in equity and $125 million in warehouse capacity. TechCrunch reported the round as led by Dubai-based Vy Capital.
$35M source ↗
Pomelo added the ability for customers to send funds directly to GCash, an e-wallet widely used in the Philippines, alongside its card product, with the option to pay later and build credit history.
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 was named to Notable Capital's Innovation 50 list, described as highlighting 50 fintech companies viewed as promising by investors.
Pomelo announced $70 million in seed financing, consisting of $20 million in equity venture capital and a $50 million warehouse facility used to cover credit card balances; Keith Rabois, then at Founders Fund, led the equity investment and joined as an early investor and board member.
$70M source ↗
After beta testing during 2022, Pomelo officially debuted its credit-based money transfer service with the Philippines as its first corridor, offering Mastercard-network cards issued by Coastal Community Bank to US applicants and their overseas authorized users.
Pomelo launched its credit-based remittance product in 2022, beginning with the United States–Philippines corridor.
Pomelo announced $5 million in seed funding from Josh Buckley, Xfund, Afore Capital and Abel Tesfaye to build a combined credit and international money transfer product; card reservations opened ahead of launch.
$5M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 15
primary sources listed
- Pomelo Unified Payment Platform | Platform as a Servicepomelogroup.com · web
15 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 Gaston Irigoyen, Juan Fantoni, Hern?n A. Corral, Eric Velasquez Frenkiel in 2021.
- Who are Pomelo's investors?
- Pomelo's investors include A*, Insight Partners, Mantis Capital, S32, Adams Street Partners, Afore Capital, Andreessen Horowitz, Atomico and 12 more.
- How much funding has Pomelo raised?
- Pomelo has disclosed $159.4M raised across 3 of its 5 known rounds.
- Where is Pomelo headquartered?
- Pomelo is headquartered in London.