PayMongo provides products and services that allow businesses of all sizes to accept payments from their customers on the internet.
With just one PayMongo account, you can process, manage, and reconcile all your transactions, then move your money to your own bank account or to your suppliers and employees.
Whether you’re a seasoned entrepreneur or you’re just starting your business, the last thing you should worry about is payments. Whatever kind of business you run or wherever you sell your products, we handle payments for you so that you can do what you do best: growing your business.
Thousands of businesses - from early stage online sellers to well-known brands - use PayMongo to accept, manage, and track online payments.
The original PayMongo team consisted of engineers, developers, and serial entrepreneurs with an aim to simplify payments for businesses of all sizes.
PayMongo raised $2.7 million from Founders Fund, Peter Thiel and Stripe, with participation from Y Combinator (PayMongo is the first Philippine fintech company it has funded), Global Founders Capital, Soma Capital, Tinder co-founder Justin Mateen, and other angel investors.
PayMongo is listed under the central bank’s (Bangko Sentral ng Pilipinas) official list of registered Operators of Payment Systems (OPS) under Republic Act No. 11127, or the National Payment Systems Act (NPSA).
A payment system provides the channels through which funds are transferred among banks and other institutions to discharge payment obligations arising from economic and financial transactions across the entire economy.
PayMongo secured $12 million in a Series A financing round led by Stripe with participation from the company’s roster of existing investors from the previous round – Y Combinator, Global Founders Capital and a new investor, Bedrock Capital.
PayMongo was one of four Filipino companies selected for Forbes Asia’s 100 to Watch list, which spotlights notable companies and startups on the rise across the Asia-Pacific region.
PayMongo raised $31 million in Series B funding in a round participated in by Justin Mateen’s JAM Fund, Philippine VC firms ICCP-SBI Venture Partners, and Lisa Gokongwei’s Kaya Founders, together with existing investors Global Founders Capital and SOMA Capital. The founders of top European fintech unicorns and startups Qonto, Viva Wallet, Billie, and Scalable also participated in the round.
The Bangko Sentral ng Pilipinas (BSP) authorized PayMongo Philippines, Inc. to operate as an Electronic Money Issuer (EMI). The license granted to PayMongo Payments, Inc., a subsidiary of PayMongo, will enable the company to offer a wider range of innovative and integrated financial services to businesses of all sizes in the Philippines.
