4 days a week in office
Fee-free international remittances
Open for applications
Fee-free international remittances
21-100 employees
Open for applications
4 days a week in office
21-100 employees
To reinvent the money transfer experience with credit to make it refreshingly free, fast, and safe.
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To reinvent the money transfer experience with credit to make it refreshingly free, fast, and safe.
Pomelo is the newest in a growing cadre of fintech startups of the same name. This Pomelo is looking to make international payments cheaper and more useful to the citizens sending billions home in remittances from the US each year.
With Pomelo users can instantly transfer cash to up to 4 international cards in the form of credit, and control and monitor spending on them. Alongside rapid international payment, this helps those typically excluded from financial systems to begin to build up a credit score - and options are available for those with neither a credit score nor a credit history to begin with.
This gives Pomelo an undeniably attractive edge over the numerous competitors in the space. None of Pomelo’s popular rivals like Xoom, Remitly, and WorldRemit offer this credit-building option, even though many remittance senders are underbanked. Plus, whilst competitors are engaged in a costly race-to-the-bottom on transfer fees, Pomelo charges precisely none: it makes money from interchanges, not transfers.
Pomelo has only just emerged from stealth, but its strong differentiation and potentially massive market appeal could see it become a real disruptor.
Kirsty
Company Specialist
Apr 2024
$35m
SERIES A
Aug 2022
$20m
SEED
This company has top investors
Leadership
A Stanford graduate who worked in Product at Marin Software, and then as a Partner Engineer at Facebook. Subsequently founded and served as CEO at database platform SingleStore.
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