Buenos Aires-based Pomelo Announces $15M Series A Extension
Gunderson Dettmer represented Buenos Aires-based client Pomelo, a digital financial services platform, in the announcement of its Series A extension of $15 million which totals the financing round to $50 million. The Series A financing included participation from monashees, Index Ventures, Insight Partners, Latitud, and Section 32. Pomelo’s platform offers Latin America-based companies virtual accounts, digital identity validation, physical or virtual corporate cards, processing payments, and other financial services. The new capital will be used for expansion into Colombia and Peru and product growth.
In the announcement of the transaction, CEO and co-founder of Pomelo Gastón Irigoyen said, "We are very happy for this additional investment and for having raised US$60 million in the first 18 months of the company's life. It is a source of pride as Latin American entrepreneurs and also a great validation that the main international funds believe in the potential of our region and in need of a new payment infrastructure in Latin America.”
The Gunderson Dettmer deal team was co-led by Daniel Green and Bradley Krack and included Fede Varni and Alexis Persson.