PayMongo, a Philippines-based online payment platform, has secured $12m in a series A round led by digital payment technology provider Stripe.
Y Combinator and venture capital firms Global Founders Capital and Bedrock Capital also took part in the round. PayMongo was the first Filipino-owned financial tech startup to take part in Y Combinator’s accelerator and raised $2.7m in seed funding after it launched in June 2019.
Noah Pepper, Stripe’s business lead in the Asia-Pacific region, said it invested in PayMongo because “we have been impressed with the PayMongo team and the speed at which they’ve made digital payments more accessible to so many businesses across the Philippines”.
