Pomelo, a fintech start-up based in Latin America, has raised $40 million in a Series B funding round led by Kaszek.
The funding round also attracted international investors including Monashees, Index Ventures, Insight Partners, Endeavor Catalyst, S32, TQ Ventures, and Alter Global.
Pomelo plans to use the funds to invest in its technology and further establish its market presence.
The start-up provides payments infrastructure to card businesses and banks in Latin America.
Pomelo’s payment technology allows fintechs and embedded finance firms to launch their own virtual accounts and card programs.
The company aims to double the size of its business in 2024.