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Philippines-based PayMongo secures USD 12 mln Series A led by Stripe

Monday 28 September 2020 12:33 CET | News

Stripe has led a USD 12 million Series A round in online payment platform PayMongo, as announced by the startup.

PayMongo offers an online payments API for businesses based in the Philippines. The fintech startup took part in Y Combinator’s accelerator program. Y Combinator and Global Founders Capital, which is another previous investor, returned for the Series A, which also included participation from new backer BedRock Capital, according to TechCrunch.

PayMongo partners with financial institutions, and its products include a payments API that can be integrated into websites and apps, allowing them to accept payments from bank cards and digital wallets like GrabPay and GCash. For social commerce sellers and other people who sell mostly through messaging apps, the startup offers PayMongo Links, which buyers can click on to send money. PayMongo’s platform also includes features like a fraud and risk detection system.

More: Link


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Keywords: Philippines, PayMongo, Stripe, startup, online payments, online payment platform, fintech, businesses, Y Combinator, accelerator program, Global Founders Capital, BedRock Capital, financial institutions, payments API, online payments API, API, apps, bank cards, digital wallets, GrabPay, GCash, commerce, messaging apps, PayMongo Links, fraud, risk detection
Categories: Banking & Fintech | Payments General
Countries: Philippines
This article is part of category

Banking & Fintech