PayMongo CEO faces misconduct allegations while company struggles

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Hello there,

I used to write about harassment cases in households, colleges, and even religious schools in Indonesia. These stories all shared a similar theme: an abuse of power against victims.

However, there’s a lot more at stake when it happens at a workplace. The fear of losing their jobs and the food on their table if they come out against their superiors may push victims deep into the dark.

In the Philippines, the PayMongo board has launched a formal investigation against the fintech startup’s CEO Francis Plaza. In parallel, an ex-employee has filed a formal complaint to the company’s board last week on the harassment that he faced.

This follows “multiple reports” of harassment from PayMongo employees against former CFO Jay Olos, who was dismissed from the company earlier this year.

The startup is now reeling from multiple C-suite departures and internal strife even as its performance comes under strain, as my colleague Melissa highlights in this week’s Big Story.

Meanwhile, for the Hot Take, I examine why the latest collaboration between GoTo Group and Bank Jago in Indonesia is significant in their two-year relationship. When Gojek’s merchants have access to Jago’s credits, who knows how far both companies can grow?

– Budi

(Note: Sorry for the delay in today’s edition of The Top Up, but our Big Story is hot off the presses!)

THE BIG STORY

Fallout at PayMongo: alleged harassment by CEO, founder departures, growth woes

Image credit: Timmy Loen

PayMongo has grown fast amid the pandemic. Now, with C-suite leader departures and allegations of harassment, it faces its biggest test yet.

THE HOT TAKE

A new chapter in GoTo and Bank Jago’s relationship

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