Apr 22, 06:01 PM

Pomelo Secures $35M Led by Vy Capital for Credit-Based Transfers to Philippines

Pomelo, a startup that combines international money transfer with credit, offering a 'send now, pay later' service, has successfully raised $35 million in a Series A funding round. The round was led by Dubai-based venture firm Vy Capital, with significant contributions from Founders Fund, A* Capital, and early investor Afore Capital. This financing boosts Pomelo's total raised funds to $55 million. The company primarily facilitates credit-based transfers from the U.S. to the Philippines, allowing users to enhance their credit scores while managing overseas remittances.