Online payment company PayMongo has reportedly raised $12m in its Series A round, which was led by payments monolith Stripe.
Other participants of the round include Y Combinator, Global Founders Capital and BedRock Capital, according to a report from TechCrunch.
Based in the Philippines, the FinTech company helps online businesses to accept digital payments. Clients can integrate the technology with their existing infrastructure and will not have to make monthly subscription payments, instead they pay when a transaction is made.
Its technology is backed by fraud detection to protect businesses from illicit players.
The Philippines first neobank tonik is gearing up for its launch later in the year through the support of a $21m Series A investment. The capital was supplied by Sequoia India. tonik recently gained its banking license from the Philippines government, making it the first digital-only banking platform in Southeast Asia, it claims.
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