Pomelo Group, the Singapore-based payment infrastructure platform that enables financial institutions to offer modern payment solutions to their end users, announced the acquisition of Arrow Checkout. The Singaporean-based company, brings Payments talent and additional technology capabilities to the Pomelo offering.
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Pomelo Group has completed the acquisition of fellow Singaporean FinTech Payments company Arrow Checkout. The company was founded in 2021 by leading Payments experts 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 leading 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 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.
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“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.” said Neo, Co-Founder & CEO for Arrow.
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.”
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Source –PRWeb
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