Insight Partners Invests in LatAm Fintech Start-Up, Pomelo

October 22, 2021

Willkie represented Insight Partners in the transaction.

On October 21, Pomelo, a fintech startup based in Buenos Aires, announced the closing of a $35 million funding round, led by Tiger Global Management with participation from Insight Partners, Index Ventures, monashees, SciFi, QED Investors, BoxGroup, Greyhound, Gilgamesh Ventures and Clocktower.

Headquartered in Argentina and with operations and offices in Brazil and Mexico, Pomelo provides financial services infrastructure, through its API-driven platform, giving companies a way to build compliant onboarding processes, launch virtual accounts that are connected to the local financial systems and issue debit and credit cards throughout Latin America. Pomelo has been granted a Mastercard and payments license in Argentina.

Pomelo will use the Series A funding to expand its operations to Chile and Colombia, accelerate its product road map and increase business development efforts. Pomelo’s goal is to hire an additional 150 employees by the end of 2022.

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has more than $30 billion in capital commitments, invested in more than 400 companies, and completed more than 200 M&A transactions for its portfolio companies.

The Willkie team was led by partners Matthew Guercio and Philip Coletto, and included London associates Julian Grant and Megan Gairns.