Palomma Raises $10M Series A To Expand Rent Payments And Landlord Financing In Colombia

Medellín-based Palomma raised $10 million in Series A funding led by Mexican venture firm Cometa. The round brings the startup’s total funding to $14 million, including $4 million in previously undisclosed funding.

Participants include Volpe Capital, Clocktower Technology Ventures, Tekton Ventures, Simma Capital and Yango Ventures, alongside existing investors Y Combinator, 17Sigma, Nido Ventures and Norte Ventures. The key takeaway: investors are backing a model that combines rent collection, AI software and financial products in one platform.

Palomma’s platform helps property managers handle leasing inquiries, customer service and collections, while also processing rent payments and landlord payouts. Those payment relationships give the company data it can use to assess applicants for financing, rental guarantees and other financial services.

Its products include Palomma Plus for tenant rewards and credit-building benefits, Palomma Advance for landlords seeking up to 12 months of future rental income upfront, and Palomma Protect for rental income coverage if a tenant defaults. Palomma is also developing Palomma Flex, which would let tenants split monthly rent into two installments.

Palomma says annual recurring revenue has grown thirtyfold in 18 months to about $3 million. The company processes about $130 million in monthly rental payments and serves more than 200,000 tenants through over 500 property managers in Colombia.

It estimates $1.5 billion in annualized rent payment volume. The company also reports net revenue retention of 390% after 12 months, a sign that existing customers are adopting more of its services over time.

Palomma plans to use the funding to expand in Colombia, develop additional AI and financial products, and prepare for other markets. The company is considering Mexico, Brazil and the Spanish-speaking U.S. market, though Colombia remains the priority.

The founding story also matters: co-founder and CEO Cipriano Echavarría previously helped Nubank launch in Colombia before starting Palomma with Felipe Monsalve and Nicolás Gómez del Campo. For readers tracking Latin American fintech, Palomma’s approach shows how payments, software and underwriting data are converging in real estate services.