Inside the Industry: Enabling online business with PayMongo

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Serial entrepreneur Luis Sia didn’t expect to go into financial technology (fintech), but after seeing how small businesses struggled to accept digital payments, he knew something had to be done.

In 2019, Luis co-founded PayMongo. PayMongo would soon be selected for the prestigious international startup incubator, Y Combinator – the first Filipino company since Kalibrr. They have since garnered support from renowned figures like Peter Thiel (PayPal) and Justin Mateen (Tinder).

Throughout the pandemic, PayMongo’s network has grown significantly with the amount of small business owners pivoting to e-commerce. The startup continues to diversify its products and services to cater to all needs for online business. With the Philippines’ booming e-commerce market, both local and investors are eager to invest in Filipino companies.

E-commerce has truly grown in the past decade. In the US, Stripe started in 2010. I personally believe the Philippines is at that inflection point right now.

Luis Sia, Co-Founder of PayMongo

In this episode, Luis Sia outlines the plethora of opportunities now available to Filipino entrepreneurs looking to explore the digital space.

If you like this episode, you might also enjoy 1,000,000 new jobs with MyKuya and User experience and design with UXPH.

And if you haven’t followed us yet, Inside the Industry has a new episode out every #HustleMonday. – Rappler.com

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