Pomelo Announces $35M Series A, Additional $75M Warehouse, Expanding Its Credit-Building Remittance Product [Yahoo! Finance]
Coastal Financial Corporation (CCB)
Last coastal financial corporation earnings: 4/27 09:25 am
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Source: Yahoo! Finance
a Series A of $35 million in venture capital and a $75m expansion of its warehouse facility from Vy Capital, Founders Fund, and A* Capital. This brings total funds raised to date to $55m in equity capital and $125m for its warehouse facility. This round of funding follows Pomelo's inclusion in Notable Capital's Innovation 50 List for 2024, described as "highlighting the 50 most promising fintech companies in the eyes of investors." This accolade recognizes Pomelo for advancing a $650b global remittance industry by empowering customers to build credit with their remittance funds and obligations for the first time. Keith Rabois , an early investor and board member, recognized that Pomelo's novel product experience had the potential to deliver enhanced value to an underserved market. "Pomelo stands out through a fundamentally different approach to remittance transfer by using credit as its foundation," said Rabois. "The product unlocks value beyond facilitating cross border money m
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CCB
Earnings
- 1/30/24 - Miss
CCB
Sec Filings
- 4/29/24 - Form 8-K
- 4/29/24 - Form 8-K
- 4/5/24 - Form ARS
- CCB's page on the SEC website