Palomma

Company History and Background

Palomma, formerly known as Pagaa, is a fintech company based in Medellín, Antioquia, Colombia. Operating in the fintech industry, Palomma focuses on providing payment solutions for businesses in Colombia, Latin America, and remotely. The company is part of the Y-Combinator W23 batch and supported by world-class investors. With a small team of three, Palomma emphasizes innovation in online payment processing and integration.

Services

Palomma offers comprehensive payment solutions, focusing on the collection and dispersion of payments. The range of transaction volumes spans from 0 to over 500,000, suitable for various business sizes and needs. The company provides integration with multiple payment gateways to optimize online payments, ensuring high acceptance rates and reduced processing costs. Additionally, Palomma facilitates recurring payments through a modern and scalable platform and API and provides automatic payment reminders via WhatsApp, email, or SMS.

Products

Palomma's products include a developer-friendly API that scales with business growth, enabling automatic debit for sectors like credit companies, real estate, public services, education, telecommunications, SaaS platforms, investment platforms, and insurance. The platform supports immediate and programmatic dispersion of payments via API to any bank account, available 24/7. Users can also benefit from automatic payment reminders and a seamless checkout process, allowing customers to pay directly from their bank accounts.

Regional Operations

Palomma primarily serves regions including Colombia and broader Latin America. The company operates partly remotely, allowing for flexibility in various markets. Plans are in place to facilitate payments in additional countries within the region soon, expanding their reach and improving access to modern payment solutions for businesses and consumers alike.

Industry Applications

Palomma caters to a wide range of industries, providing use cases for automatic debit in credit, real estate, public services, education, telecommunications, SaaS platforms, investment platforms, and insurance. Their services include refunds, payroll payments, supplier payments, and instant loan disbursements. The company's payment infrastructure and API are designed to help businesses save on card fees, increase conversions, and automate operations, thereby reducing costs and increasing effectiveness.