Just last month, we at Pomelo Pay secured the final instalment of Series A funding. This investment represented an important achievement that reflects our growth as a company.
So, we thought it would be fitting to relive all the important milestones that have gotten us to where we are today!
Our mission is to improve the lives of business owners by providing them with affordable and easy to use financial technology.
In 2017, this meant helping UK businesses improve their checkouts by giving them the ability to add some of the most popular international payment options.
Now, we offer a full suite of payment solutions to reduce the friction that currently affects the way many businesses accept and process payments.
2022 promises to be an even more exciting year in which we hope to release even more products and help even more businesses streamline their operations.
Pomelo Pay is founded in August 2017 by Simon Verraest, Vincent Choi and Neil Cuthbert. The company’s first offering is a QR code payment solution which provides UK retailers with the ability to accept Alipay and WeChat Pay. It is the perfect solution for businesses that want to attract Chinese customers.
Pomelo Pay opens its first office in London.
Pomelo Pay raises £1.2m in seed funding to finance product development and team expansion.
Pomelo Pay partners with the Bank of Maldives to provide all of their customers with access to Pomelo’s full suite of payment products. The Pomelo platform provides Maldive customers with all the tools they need to navigate through the pandemic.
Pomelo Pay signals its expansion in Asia by opening a new headquarters in Singapore.
Asia expansion continues with a new office opening in Vietnam.
Pomelo Pay releases a shop feature that helps businesses who want to create an e-commerce platform quickly. Contactless table ordering is also rolled out to assist businesses who wish to covid-proof their operations.
Pomelo Pay achieves Payment Card Industry Data Security Standard (PCI DSS) Level 1, which is the most stringent level for processing payment platforms. PCI certification emphasises the security of all transactions processed by Pomelo Pay.
The Financial Conduct Authority (FCA) awards an e-money license to Pomelo Pay. With this, Pomelo Pay can open accounts for customers and provide them with their own payment cards.
Pomelo Pay rolls out payment links, a new feature that allows businesses to accept payments remotely and instantly. It is the ideal solution for businesses that are looking for safe payment options in the midst of the pandemic.
Pomelo Pay secures a £2.1m investment. The funding round facilitates an expanded presence across Europe and Asia and allows Pomelo Pay to continue developing their London and Singapore teams.
Mastercard announces a new partnership with Pomelo Pay. This will enable Pomelo Pay to issue cards, which will have a transformative effect on how businesses access their working capital. With company cards, businesses can reduce waiting times and make financial administration even simpler.
Pomelo Pay secures an investment of $10m to mark the end of Series A funding. The round of funding is to finance the doubling of the Pomelo team and the continued expansion of services across Europe and Asia.
We look at some of the new trends and innovations we'll see in fintech for 2022.
WeChat Pay and Alipay are two of the most popular payment methods in the world. Here's how you can accept them.