Tiger Global leads US$35M bet on LatAm fintech Pomelo

Just over five months following the completion of a US$9 million seed funding round, Latin American fintech Pomelo issued a statement today announcing the close of a new Series A financing led by Tiger Global Management.

The startup launched in the early months of 2021 with a vision to develop a fintech-as-a-service platform for Latin America. 

Its infrastructure will enable financial technology firms and other related institutions to launch virtual accounts and issue prepaid and credit cards through “compliant” onboarding processes. 

In addition to Tiger, a host of venture capital firms made commitments in the Series A funding round, including Insight Partners, Index Ventures, monashees, SciFi, QED Investors, BoxGroup, Greyhound, Gilgamesh Ventures, and Clocktower. 

The round also drew participation from key angel investors, including Affirm founder Max Levchin, Biz Stone, Martin Varsavski, Jackie Reses, a16z’s Angela Strange, N26’s Max Tayenthal, Plaid co-founder William Hockey, Ramp co-founders Eric Glyman and Karim Atiyeh, and Unit co-founder and CEO Itai Damti.

The funding follows a recent US$1 million seed round extension in June that drew commitments from Sequoia Capital, Checkout’s Guillaume Pousaz, GGV’s Hans Tung, and GoCardless’ Matt Robinson.