(Bloomberg) -- Carlo Enrico, the former Latin America and Caribbean regional head at Mastercard Inc., has invested in payment card startup Pomelo and will join the board.
Enrico, who worked at Goldman Sachs Group Inc. earlier in his career and was chief executive of Italy’s BancoPosta, recently left Mastercard after 12 years. In 2022 he also invested in expense management startup Jeeves.
Pomelo and Enrico declined to say how much he invested or what equity stake he will hold.
Founded in Argentina in 2021, Pomelo has raised some $103 million and now operates in six countries in the region. With about 300 employees and more than 100 clients, it’s focused on building financial services infrastructure including a card issuing and processing platform.
Enrico, who is based in Milan, was involved in negotiating commercial agreements while at Mastercard with the likes of Nubank, Mercado Pago and Uala, according to a statement.
He joins the three co-founders and representatives of venture capital firms Kaszek and Monashees on the board.
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