Pomelo Group has completed the acquisition of Singaporean FinTech payments company Arrow Checkout.
The firm was established back in 2021 by leading Payments professionals from Grab and Tencent.
Arrow offered eCommerce and checkout payments technology, was backed by Y Combinator, and raised funding “from Peak XV (formerly Sequoia India and Southeast Asia), Alpha JWC, Meta, and angel investors from Checkout.com, Coinbase, Grab and VISA.”
As part of the acquisition, the Arrow founders “join the Pomelo team in Singapore.”
Neo Liat Beng has been appointed “as Pomelo’s Chief Product Officer, and will lead the company’s product development efforts.”
Sebastian Roervig reportedly “becomes VP of Sales & Business Development, and will drive adoption of the Pomelo platform across emerging markets in Asia.”
Sudhan Raj strengthens the engineering talent at Pomelo, and will “help deliver further technology improvements over the coming years.”
Neo Liat Beng, Co-Founder & CEO, Arrow said:
“We’re excited to bring our technology and payment expertise to the Pomelo team and join forces to build the leading payments infrastructure platform for emerging markets.”
Endre Sagi, Pomelo’s Executive Chairman, remarked:
“This acquisition is particularly attractive because of the exceptional talent and payment industry knowledge the Arrow Checkout team brings to Pomelo. The fact that the incoming team members are already familiar with our management and share a great cultural fit significantly enhances our ability to integrate and collaborate effectively. We believe this combination strengthens the Pomelo platform’s position and accelerates our growth prospects.”
Steve Vickers, CEO of Pomelo Group, commented:
“One of the hardest things for any early-stage company to achieve is recruitment of strong talent to boost the team’s capabilities. I worked with both Neo and Seb at Grab and know the skills and drive these individuals possess. I am delighted to be able to renew our professional partnership as we look to propel Pomelo to greater achievements across the coming years.”
As noted in the update, Pomelo Group is payment infrastructure provider enabling financial institutions and enterprises “to deliver modern payment solutions.”
“Trusted” by financial institutions across Southeast Asia, Pomelo was founded in 2017 by Simon Verraest and is headquartered in London and Singapore.
The company is privately held and backed by Inference Partners and Force Over Mass Capital.