Former Mastercard exec invests in Argentinian payments startup Pomelo

Former Mastercard Latin America and Caribbean regional head Carlo Enrico has invested in Pomelo, an Argentinian payments infrastructure firm.

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Former Mastercard exec invests in Argentinian payments startup Pomelo

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Enrico, who spent more than 12 years at Mastercard, most recently as an executive committee member, also joins the Pomelo board.

Built by Mastercard, Mercado Pago and Naranja X veterans, Pomelo helps clients launch credit, debit or prepaid card businesses in multiple countries, in weeks, with a single technological integration.

The company operates in Colombia, Argentina, Brazil, Chile, Mexico and Peru and has hundreds of corporate clients including banks, multinational companies and technology startups such as Rappi, Bitso, Stori, Lulobank, Nomad, Payjoy, Ripio, and AstroPay.

In January, the company - not to be confused with the US card startup of the same name - raised $40 million in Series B funding.

On LinkedIn, Enrico writes: "Pomelo's state-of-the-art solutions enable card issuers to modernize their tech stack and accelerate their go-to-market across a fast growing and increasingly sophisticated region."

Adds Pomelo CEO Gaston Irigoyen: "Having witnessed first hand the limitations of the financial services ecosystem in the region, Carlo sees Pomelo as a transformational company and will work closely with us to reshape the payments infrastructure in Latin America."

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