Anthony Pompliano, famous crypto influencer, today announced the new investment made by his Pomp Investments. It is Nelo, a growing startup in the Mexican Buy Now, Pay Later (BNPL) market.
Pomp Investments and the bet on Nelo
Well-known investor Pompliano, shared his new investment in the startup Nelo directly on Twitter, the social network of crypto-lovers:
Today I’m announcing another investment in Nelo (@nelo_mex).
They’re quickly taking Mexico’s Buy Now, Pay Later market by storm
pic.twitter.com/P9VC80CMil
— Pomp
(@APompliano) October 13, 2021
“Today I’m announcing another investment in Nelo (@nelo_mex). They’re quickly taking Mexico’s Buy Now, Pay Later market by storm”.
Nelo is a Startup founded by the former leader of Uber’s international growth team, and started offering BNPL (Buy Now, Pay Later) services in Mexico at the beginning of 2021. Essentially, using Nelo’s app, customers can make purchases from merchants such as Amazon, Mercado Libre, Telcel, Netflix and Spotify.
The startup’s goal is to expand throughout Latin America, and as support, there has been a $20 million fundraising round, of which Pomp Investments appears to be a part.
Pomp Investments and the Nelo funding round
In another tweet, Pompliano promotes Nelo’s mission. According to reports, Nelo’s funding round was led by Two Sigma Ventures, with its backers including Homebrew, Susa Ventures, Crossbeam and angel investor Pomp Investments.
In total, with the latest Series A funding, the BNPL app has already raised $25.6 million since its inception in 2019. In this regard, Kyle Miller, CEO and co-founder of Nelo stated thus:
“Our goal is to enable digital commerce throughout LatAm, and BNPL in Mexico is our first step towards that vision. Our mobile app allows customers to buy now and pay later at over 75 merchants, and very soon, any merchant, ultimately becoming the destination for any consumer that wants to buy online. This captive consumer base is crucial to building the network that is Nelo”.
To date, Nelo’s startup is growing 50% month on month and is selling over 100,000 new purchases/transactions per month.
Pompliano: amid investments and predictions on bitcoin and crypto
Last September 2021, Pompliano also announced its investment in the Bitcoin-based DeFi Sovryn protocol. In contrast to now, the amount invested by Pomp Investments had been disclosed and amounted to 150 BTC, the equivalent at that time of 9 billion dollars.
Between predictions and hypotheses, the well-known crypto influencer also shared Fidelity’s hypothesis that the price of BTC could reach $100 million by 2035. To stay on point, Pompliano also predicted the scenario of the first approved bitcoin ETF.
According to him, the long-awaited investor anticipation of seeing the first bitcoin ETF approved by the US SEC would cause the asset to set off “fireworks”, just as happened with the gold ETF.
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