Tech Company Financing Transactions

Pomelo Funding Round

Pomelo closed a $20 million Seed funding round on 8/17/2022. Backers included Founders Fund, private investors and Afore Capital.

Transaction Overview

Company Name
Pomelo
Announced On
8/17/2022
Transaction Type
Venture Equity
Amount
$20,000,000
Round
Seed
Investors

Founders Fund (Lead Investor) (Keith Rabois)

private investors (Lead Investor) (Kevin Hartz)

Afore Capital

private investors (Josh Buckley)

The Chainsmokers

Xfund

Proceeds Purpose
Pomelo's key tweak is around credit. Senders can give cash, in the form of credit, to family members -- which the startup thinks will help with instant access to funds, fraud and chargeback protection and, for potential immigrants that may use this to send money back home, a way to boost one's credit score with more transaction history.

Company Information

Company Status
Private & Independent
Industry
FinTech
Mailing Address
720York ST, 116,
San Francisco, CA 94110
USA
Phone
Undisclosed
Website
www.pomelo.com
Email Address
[email protected]
Overview
Pomelo is a financial technology company. Banking services provided by Coastal Community Bank, Member FDIC. The Pomelo Card is issued by Coastal Community Bank, member FDIC, pursuant to license by Mastercard International.
Profile
Pomelo LinkedIn Company Profile
Social Media
Pomelo Company Twitter Account
Company News
Pomelo News
Facebook
Pomelo on Facebook
YouTube
Pomelo on YouTube

Management Team

Title
Name
Email & Social
Chief Executive Officer
Eric Frenkiel
  Eric Frenkiel LinkedIn Profile  Eric Frenkiel Twitter Account  Eric Frenkiel News  Eric Frenkiel on Facebook
Chief Financial Officer
Louis Yang
  Louis Yang LinkedIn Profile  Louis Yang Twitter Account  Louis Yang News  Louis Yang on Facebook

 

 

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Prev: 8/17/2022: Venue venture capital transaction
Next: 8/17/2022: Arine venture capital transaction

 

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