London digital payments start-up Pomelo Pay has secured a £2.1m investment in a seed funding round led by Force Over Mass.
Pomelo Pay allows businesses to take payments physically or digitally via QR code, API and NFC technology.
The investment will also be used to expand Pomelo Pay’s growing team and build on its international reach, which includes offices in London and Singapore, with an expanded presence in countries across Europe and Asia.
Founded in 2017 by a team of financial services and tech specialists, the firm reports a 25% month-on-month growth.
Vincent Choi, CEO and Co-Founder of Pomelo Pay, said: “The investment we have just secured will help us to expand our operations; shaking up the payments world by removing financial admin headaches for growing businesses and allowing them to focus on what they do best.”
Wouter Volckaert, Partner at investor Force Over Mass, added: “Pomelo Pay gives merchants the flexibility their clients need, providing support for a broad range of payment options in today’s ever more fragmented payments ecosystem. As the shift towards cashless payments has accelerated, we’ve been impressed by Pomelo’s experience navigating different payment ecosystems around the globe. We are very excited to join Vincent and the team on the journey ahead.”
In September, Pomelo Pay was selected to join Tech Nation’s growth programme Fintech 3.0.
https://businesscloud.co.uk/news/tech-nation-reveals-its-fintech-cohort-for-2020/