← Embedded Finance Index 2026

Paymongo

“Can a Philippine payments gateway become the full financial operating system—payments, wallets, lending, and FX—for fast-growing Southeast Asian SMBs?”

Founded2019
HQBonifacio Global City, Taguig, Manila, Philippines
FoundersFrancis Plaza (CEO), Edwin Lacierda (COO), Jaime Hing III (CTO), Luis Sia (Chief Commercial Officer / Chief Growth Officer)
Total raised~$46M
Latest roundSeries B, February 2022
IndustryFintech / SMB banking
The story

Founded in 2019 as a Philippine-focused payments API (the 'Stripe of the Philippines'), PayMongo quickly attracted Stripe itself as a lead Series A investor. Beyond payment acceptance, the company has systematically built a full financial operating system for Philippine SMBs: first launching a Wallet for instant settlement (2023), then PayMongo Capital—a lending marketplace connecting merchants to regulated partner lenders with revenue-based repayment—and now expanding into FX/cross-currency transfers and crypto wallet support. The trajectory is from payment gateway to embedded financial platform for Southeast Asian businesses.

Last 12 months
2025-04
2025-03
2024-10
Product timeline
2019
Founded and launched as a payments API platform for Philippine merchants; first Philippine fintech in Y Combinator; raised $2.7M seed.· pivot
2020
Raised $12M Series A led by Stripe; expanded payment methods to include GrabPay, GCash and card payments.· banking
2022
Raised $31M Series B; announced plans for regional (Southeast Asia) expansion.· pivot
2023
Launched PayMongo Wallet product offering instant settlement, InstaPay/PESONet transfers, and batch disbursements.· banking
2024
Launched PayMongo Capital — a platform connecting merchants with regulated partner lenders for revenue-based working capital financing.· lending
2025
Added multi-currency Forex/FX quoting infrastructure and expanded integrations including crypto wallet support (USDC/USDT) announced as coming soon.· banking
Regulated entities
2
regulatory licences held by Paymongo
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Paymongo’s embedded-finance stack
Payments / PSP
PayMongo Payments (self-operated)
Banking / BaaS
in the full report
Lending
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting gap: significant
8 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.