Digital payments company Pomelo Pay has raised £7.5 million in a Series A round led by Inference Partners.

The investment will allow the company – which employs 50 people across its headquarters in London and offices in Singapore and Vietnam – to expand its presence across global markets including Europe and Asia.

It initially plans to double its workforce in London, Singapore, Vietnam, Thailand and the Philippines.

Launched in 2018 in the UK and Singapore, Pomelo allows merchants to digitise their payment infrastructure and take payments from anyone, in any location – physical or digital – at near zero costs. 

The company provides an integration with over 30 payment networks globally. Its payments platform is also used by leading banks and non-banking financial institutions for a drastically improved acquiring experience, enabling them to offer the broadest suite of payment acceptance solutions to their end customers.

It crossed $500m in payments processed for 2021 and projects a growth of five times by 2022.

How we scaled to 200 staff in eight months

“This investment from Inference Partners comes at an opportune time where businesses and SMEs in Southeast Asia have become accustomed to selling on digital platforms,” said CEO and co-founder Vincent Choi.

“We plan to capitalise on the huge pace of growth and adoption by partnering banks and NBFIs from emerging markets to offer merchants easy and affordable payment solutions to help them innovate their business and grow their customer base.

“I’d like to thank all our investors for their support as we expand Pomelo Pay’s global presence across Europe and Asia. 

“This helps us in taking a more holistic approach of building a payment infrastructure, on the cloud, where world leading banks and financial institutions have adopted using our API-based acquiring solution to integrate origination, working capital financing, credit scoring, card issuing, invoicing and more.”