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PayMongo may raise fresh capital in early 2026, CEO says
PayMongo Philippines, Inc. is considering raising new capital by 2026 to support its growth and expansion plans, according to CEO Elmer Malolos.
The company currently has sufficient funding for its operational needs, having raised US$31 million in 2022.
With potential overseas expansion planned, PayMongo is targeting Southeast Asia as a market.
The firm plans to leverage partnerships with major shareholders, such as Stripe, to optimize its efforts in this region.
PayMongo anticipates reaching a potential breakeven point by early 2026, with the possibility of achieving this milestone sooner if growth accelerates.
Recent PayMongo developments
| Timeline |
|---|
01-Feb-2023 ⚠️ PayMongo receives demand to investigate board chairman
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25-Nov-2022 🚀 PayMongo co-founder and CEO Francis Plaza steps down
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12-Oct-2022 📉 Deep Dive: PayMongo’s precarious predicament
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08-Sep-2022 🚨 What caused PayMongo’s crisis? Insiders tell us
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| 23-Aug-2022 📰 PayMongo CEO goes on ‘voluntary leave’ |
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