We have a big announcement: we raised a new investment round of US$ 40 million, consolidating our leadership in payment technology in Latin America.
The round was led by Kaszek, the largest venture capital fund in Latin America, and also included participation from important international investors, such as Monashees, Index Ventures, Insight Partners, Endeavor Catalyst, S32, TQ Ventures, and Alter Global.
Since our founding in 2021, our payment technology, which is modernizing the card business in Latin America, enables local and international companies to offer prepaid, debit, and credit cards to their customers in multiple countries, with a single technological integration and at a fraction of the cost. Throughout this great journey, we have raised US$ 103 million.
Focusing on our growth plan, the capital received will allow us to continue investing in disruptive technology that transforms card payments throughout Latin America and double the size of our business in 2024. We are very pleased to start the year with this capital injection and to have the support of Kaszek and several of the most prestigious investment funds globally. This achievement confirms that we are continuing to move in the right direction and strengthening our leadership in the region. Gastón Irigoyen, Co-Founder & CEO of Pomelo
With a presence in the region's most important markets (Argentina, Brazil, Chile, Colombia, Mexico, and Peru), we help hundreds of banks, multinational companies, and technology unicorns like Rappi, Bitso, Stori, Nomad, Payjoy, AstroPay, Lulobank, and Finsus to launch their card businesses in a few weeks.
In 2023, we multiplied our payment volume by seven, reaching a processing capacity of 55 million daily transactions. This allowed us to strengthen our strategic alliances with Mastercard and Visa. Additionally, we were authorized as a Payment Institution by the Central Bank of Brazil, awarded at the World Economic Forum in Davos, and received the Visa Financial Innovation Award and the Mastercard Excellence Award, among other achievements.
"Pomelo leads a new generation of payment infrastructure companies in Latin America, and at Kaszek, we are very excited to actively support them in this expansion stage. The company has demonstrated exceptional traction in a very short period of time, confirming the superiority of its technological solution and the great execution capacity of this team of entrepreneurs whom we have known for years" Nicolas Szekasy, Co-Founder and Managing Partner of Kaszek
Nicolas Szekasy, Co-Founder and Managing Partner of Kaszek, raised a new one billion dollar fund in 2023 to invest in Latin America and has been working with iconic technology companies in the region for over a decade. Along with Caio Bolognesi from Monashees, Szekasy will join Pomelo's board.
This received investment confirms the fundamental importance of our role in the payments industry, allowing us to advance in the development of unprecedented technological products in the region.
We are proud of the path traveled and all that is yet to come. 2024, here we go! 🚀
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