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Philippines payment gateway PayMongo gets $31M Series B, will explore regional expansion



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PayMongo founders (from left to right): Jaime Hing III, Chief Technology Officer, Francis Plaza, Chief Executive Officer and Luis Sia, Chief Commercial Officer
Philippines-based fintech PayMongo, which enables merchants to accept digital payments, announced today it has raised $31 million in Series B funding with an eye on regional expansion. Investors include Justin Mateen’s JAM Fund, ICCP-SBI Venture Partners and Lisa Gokongwei’s Kaya Founders, along with returning investors Global Founders Capital and SOMA Capital. The startup says the round also included founders from European fintechs like Qonta, Viva Wallet, Billie and Scalable.
This brings PayMongo’s total funding to just under $46 million. Its last funding was a $12 million Series A announced in 2020 and led by Stripe.
The company works with businesses of all sizes, but targets micro-, small- and medium-sized businesses in …

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