Singapore-based fintech company Pomelo Group has completed the acquisition of Arrow Checkout, a fellow Singaporean fintech specializing in eCommerce and checkout payments technology.
Founded in 2021 by payments veterans from Grab and Tencent, Arrow Checkout quickly gained traction in the fintech space, securing backing from Y Combinator, Peak XV (formerly Sequoia India and Southeast Asia), Alpha JWC, Meta, and leading angel investors associated with Checkout.com, Coinbase, Grab, and Visa.
Key Leadership Appointments Post-Acquisition:
- Neo Liat Beng, Co-Founder & CEO of Arrow Checkout, has been named Pomelo’s Chief Product Officer, leading product development initiatives.
- Sebastian Roervig, Co-Founder of Arrow Checkout, joins as VP of Sales & Business Development, focusing on driving Pomelo platform adoption across emerging markets in Asia.
- Sudhan Raj, another key figure from Arrow Checkout, will enhance Pomelo’s engineering capabilities, helping deliver technological advancements in the coming years.
Statements from Key Stakeholders:
Neo Liat Beng expressed excitement about the merger:
“We’re thrilled to bring our technology and payments expertise to the Pomelo team. Together, we aim to build the leading payments infrastructure platform for emerging markets.”
Endre Sagi, Pomelo’s Executive Chairman, highlighted the strategic value of the acquisition:
“This acquisition is particularly attractive because of the exceptional talent and payment industry knowledge the Arrow team brings. Their cultural fit and familiarity with our management strengthen our platform and accelerate growth prospects.”
Steve Vickers, CEO of Pomelo Group, emphasized the importance of talent in early-stage companies:
“Recruiting strong talent is one of the hardest challenges for startups. Having worked with Neo and Seb at Grab, I know their skills and drive. I’m excited to renew our professional partnership as we propel Pomelo to greater achievements.” The acquisition positions Pomelo Group as a leading provider of payments infrastructure in emerging markets, leveraging the expertise and technology brought in by Arrow Checkout.
