# PayMongo Philippines

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paymongo-philippines

- Industry: Financial Services
- Headquarters: Taguig City, Philippines
- Website: www.paymongo.com
- Total disclosed funding: $49M
- Latest round: Series B (Feb 20, 2022)
- Investors on record: 8

## About

PayMongo Philippines, Inc. is a financial technology company providing innovative payment solutions that facilitate seamless transactions for businesses in the Philippines and Southeast Asia.Founded in 2019 in Taguig City, Philippines, PayMongo specializes in payment processing and financial solutions tailored for businesses. The company was founded by Edwin Lacierda, Francis FRSA, Jaime H, and Luis Sia. In February 2022, PayMongo raised PHP 1.6 billion in Series B funding to enhance its payment infrastructure and expand its financial services, with participation from investors including Global Founders Capital, ICCP Venture Partners, JAM Fund, and Soma Capital Management. The funding marks a significant milestone in their growth journey, bringing their total amount raised to PHP 1.6 billion.PayMongo offers a comprehensive suite of financial services designed to empower businesses with efficient payment solutions. Their product lineup includes payment links and customizable payment pages, enabling merchants to accept various payment methods such as credit/debit cards, GCash, and QR Ph payments. With a scalable API, PayMongo allows seamless integration into applications, targeting markets with a growing adoption of digital payments, primarily in the Philippines and Southeast Asia.In 2022, PayMongo reported a revenue of PHP 3,532,288.20, while facing an EBITDA loss of PHP 9,206,757.70. The company operates on a transactional fee revenue model, where clients incur fees based on the volume of transactions processed through its platform, including services like the PayMongo Wallet and automated payout solutions, streamlining financial operations for merchants.With the recent funding raised in February 2022, PayMongo aims to strengthen its payments infrastructure, expand into additional financial services, and scale its operations. The company plans to introduce new products to enhance its offerings and targets further expansion into emerging markets within Southeast Asia. These initiatives are intended to support their strategy of addressing the increasing demand for secure, cashless transactions and effective financial management.

## Funding rounds

- Series B, Feb 20, 2022, $31M — ICCP Venture Partners, Global Founders Capital, Soma Capital Management, Jam Fund
- Series A, Sep 14, 2020, $15M — Y Combinator, Global Founders Capital, Bedrock, Stripe
- Seed, Sep 25, 2019, $2.7M — Founders Fund, Y Combinator, Global Founders Capital, Soma Capital Management, Stripe

## Investors

- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed, Series A, Series B
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Seed, Series B
- Stripe — Seed, Series A
- Bedrock (https://capitalatlas.ai/funds/bedrock) — Series A
- ICCP Venture Partners (https://capitalatlas.ai/funds/iccp-venture-partners) — Series B
- Jam Fund (https://capitalatlas.ai/funds/jam-fund) — Series B