Electronic payment system provider PayMongo is introducing an enhanced Financial OS (operating system) and an upcoming, industry-first dynamic onboarding, as it celebrates its sixth year in business.
“This soon-to-be-released feature will allow businesses to start faster and seamlessly access PayMongo’s full suite of financial tools,” the company said in a statement marking its anniversary and the unveiling of a new company logo.
PayMongo Chairman Luis Sia, speaking at the company’s sixth anniversary celebration, said the company expects to facilitate up to $1.7 billion in payments this year, a significant increase from the $851 million facilitated in the past two years.
Since its founding in 2019, PayMongo has facilitated a total of $1.15 billion in transactions, according to Sia.
“So, a lot has happened in six years. However, this year, 2025, our milestone year, we project that, based on our current run rate, we will process $1.7 billion,” he said.
At the event, the company unveiled an expanded platform designed to streamline business payments, provide instant access to funding, and enable software platforms to embed financial tools seamlessly.
A key highlight is PayMongo Capital, a financing solution that provides businesses with quick and flexible funding, reinforcing the company’s commitment to financial inclusion and business scalability.
Sia said that PayMongo is “redefining how businesses access financial power.”
“We’re not just changing our look; we’re redefining how businesses access financial power. With our upcoming dynamic onboarding and new Financial OS, businesses will soon be able to start accepting digital payments faster than ever. PayMongo Capital further ensures they have the resources to scale seamlessly,” he said.
Sia said the company expects to increase the number of merchants using PayMongo Capital from the current 300 to as many as 1,000 establishments this year.
Jojo Malolos, PayMongo chief executive officer (CEO), said that beyond payments, PayMongo “now provides businesses with the capital to expand and enables software platforms to embed seamless financial tools.”
“Our infrastructure powers both direct business growth and industry-wide innovation while maintaining the highest standards of security and compliance,” he said.
Malolos expects PayMongo to achieve breakeven results within two years, as efficiencies continue to improve.
Malolos said PayMongo is encouraged by the 240 percent increase in gross profit posted last year.
“Remember that we are a start-up. We are not a multinational company with readily available funds. So, a 2.4x growth in gross profit is a very important milestone for any business in any economy,” said Malolos on the sidelines of the company’s sixth anniversary celebration.
“So, there are still net losses from operations in 2019, but we expect to break even in the next year or two,” he added.
As part of its growth expansion, PayMongo is looking to add three more digital banks to its list of partners that extend capital to businesses through its platform, complementing the current partner, GoTyme, within the next four months, according to Malolos.
“They’re licensed digital banks. We’re also partnering with banks and financial institutions that are licensed to lend money,” he said.
Under the arrangement, PayMongo provides the facility where businesses can access capital, and the payment platform facilitates the back-end processes of pre-approval and payment collection.
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