Meet PayMongo! This fintech's a payment gateway that powers tons of businesses in the Philippines every day. Oh, and they've just raised a $31M Series B to go even further.

• Since 2020, it has grown its merchant base 3x, and its monthly transaction volume has shot up 4x.
  

Who cashed in? Justin Mateen's JAM Fund, ICCP SBI Venture Partners, Kaya Founders, Global Founders Capital and SOMA Capital.

• 👼🏻: Founders of top European fintech unicorns and startups Qonto, Viva wallet, Billie and Scalable also joined the round.
• Launched in 2019, it has already raised nearly $46M and is also backed by PayPal's Peter Thiel, Stripe and Y Combinator.
  

🤑  It's payback time

Its products focus on helping businesses easily accept payments of all kinds, from credit and debit cards to e-wallets and over-the-counter payments.

Links. Sell on social media? Create one-time payment links you can send to each customer through a message or email.‍

Plugins. Got an e-commerce site? Add PayMongo to your e-commerce platform on Shopify, WooCommerce, Magneto and more.‍

‍APIs. Integrate its payments services into your project, whether it's a side gig or an app that handles millions of payments.‍

Pages. Get a webpage customized for your business to handle payments.

• Have a physical store? Post their QR code to redirect to your payments page.
  

🙌🏼  Beyond payments

They're now building PayMongo as a one-stop shop to support every entrepreneur's financial needs.

• It's set to launch products like BNPL, disbursements, capital lending, subscriptions and recurring payments.
• It's doubling its team size and looking to acquire licenses to support its new financial products.
  

The goal? To help businesses grow and succeed, especially MSMEs. They're 99% of Philippine businesses yet are typically underserved by traditional financial providers.

🌏  International, baby!

If you thought the "one-stop shop" goal was ambitious, they're also looking to expand across SEA. If you're another fintech in the region, you'll probably want to watch out.