Digital payments startup Pomelo Pay has secured a £2.1 million investment in a seed round led by Force Over Mass. The funding will help the UK company build on its international reach, expanding across Europe and Asia through its offices in London and Singapore.
The fintech provider allows businesses to take payments from anyone, in any location (physical or digital), at a low cost and without hardware. Its offer, which combines QR code, API and NFC technology, covers a range of payment options including in-person payments, payment links, online shops, contactless table ordering and menu makers. The company says it currently serves customers of all sizes, from fellow startups to multinationals, across sectors such as construction and trades, food and drink, travel and hospitality. Founded in 2017, Pomelo Pay reports steady growth throughout the pandemic, at about 25 percent month-on-month, as merchants and contractors opt for cashless payment options. In September, the business was selected to join Tech Nation’s Fintech 3.0, a growth programme for promising fintech startups in the UK.
Photo: Co-founder and CEO Vincent Choi