Medellin-based startup Palomma has secured $10 million in a Series A funding round led by the Mexican venture firm Cometa. This latest investment brings the company's total funding to $14 million, including $4 million in previously undisclosed capital.
The startup provides a platform for property managers that combines AI-driven leasing software with payment processing and financial services. Palomma reports that its annual recurring revenue has increased thirtyfold over the past 18 months, reaching approximately $3 million.
Currently, the platform processes about $130 million in monthly rental payments and serves more than 200,000 tenants across Colombia. The company estimates its annualized rent payment volume at $1.5 billion.
Palomma plans to use the new funds to expand its operations within Colombia, develop additional AI and financial products, and prepare for potential entry into markets such as Mexico, Brazil, and the Spanish-speaking U.S.
The company employs 18 people as of November 4. Its service offerings include rental guarantees, credit-building benefits for tenants, and advance payment options for landlords, with AI used to automate leasing inquiries and tenant screening.
