Zepz, the global payments group behind WorldRemit and Sendwave, has acquired Pomelo, a fintech platform known for offering the “first credit card built for money transfer.”
The deal marks a significant strategic pivot for Zepz, signaling its intent to evolve beyond pure cross-border payments into broader financial services, including lending and credit building.
Merging credit with remittance
Based in San Francisco with a strong foothold in the Philippines, Pomelo has carved out a niche by integrating consumer credit with global remittances. Unlike traditional money transfer services that require upfront cash, Pomelo allows users to send money using credit, eliminating cash advance fees and high APRs typically associated with using credit cards for transfers.
Crucially, the product enables users to build their credit history through their remittance obligations—a feature designed to serve cross-border communities that are often excluded from mainstream financial scoring systems.
Mark Lenhard, CEO of Zepz, described the move as a “natural next step” in the company’s evolution.
“It will allow us to offer customers access to cards and credit services, and supports our broader ambition of financial empowerment for cross-border communities,” Lenhard said. “Pomelo is a strong product built by a fantastic team, and we’re looking forward to extending these capabilities together over the long term.”
Strategic expansion
The acquisition builds on Zepz’s recent product expansions, such as the Sendwave Wallet, and aims to strengthen its position in core markets like the Philippines, where both companies already possess deep local knowledge.
By bringing Pomelo’s team and technology in-house, Zepz plans to broaden its revenue mix and improve customer retention by offering a more complete suite of financial planning tools.
Eric Velasquez Frenkiel, CEO at Pomelo, commented: “Zepz shares our focus on serving cross-border communities and has tremendous potential to accelerate access to credit and everyday financial tools for people who have historically been underserved.”
While the acquisition has been finalised, Zepz noted that the Pomelo product has been “temporarily paused” for customers while the technology is integrated into the wider Zepz product roadmap. The company has not yet specified a timeline for the relaunch.