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Stripe, Founders Fund, and Others Invest USD2.7 Million in Seed Round for PayMongo

Philippines-based online payments company PayMongo has raised USD2.7 million in a seed round from US-based internet company Stripe; venture capital firms Founders Fund, Soma Capital, Global Founders Capital, and Y Combinator; and angel investors including PayPal co-founder Peter Thiel and Tinder co-founder Justin Mateen. PayMongo enables local merchants to process payments through social media platforms and mobile messaging applications. The company will use the new funding to grow its team, continue product development, acquire other businesses, and solidify strategic partnerships.