There is heightened interest among global investors in Latin America’s burgeoning fintech industry.

This has manifested itself in Argentina’s start-up Pomelo, which has raised US$35 million from various investors with less than one year in business. The funding was raised from a group of investors led by Tiger Global.

Considering the speed at which growing, investors are convinced that Pomelo could become Latin America’s next Nubank. Pomelo launched its operations barely three months ago after receiving US$1 million in seed funds from Silicon Valley venture capital firm Sequoia.

The funds raised will use new funds to increase the headcount from the current 100 to 250 and expand operations to Chile and Colombia. Pomelo is no doubt a unique startup because its API platform allows anyone to embed digital financial services into their business.

Using the platform, they can offer virtual accounts and issue debit and credit cards anywhere in Latin America.

Speaking with local news outlet iProUP, CEO & Co-Founder of Pomelo, Gastón Irigoyen said, “we allow any company launch its own fintech, from the onboarding of users to the issuance and delivery of prepaid or credit cards.”

“This allows them to improve their value proposition and generate additional income without losing focus on their core business,” he added.