PayMongo, a fintech company and one of the country’s first unicorns or one worth one billion US dollars, on Friday announced the appointment of Jojo Malolos as president and CEO of PayMongo, effective February 1, 2023. As part of this appointment, Isabel Ridad will step down as interim CEO and will leave the company as she pursues her own venture. To ensure a smooth transition, Isabel will assist by remaining with the company until the end of February and continue to serve on the PayMongo Board of Directors thereafter.
As CEO, Jojo is responsible for re-shaping PayMongo’s plans for the company’s next phase of growth. Like many others, PayMongo is entering a scale-up period amidst a challenging market environment and Jojo will lead efforts to ensure success by implementing a broad range of transformation initiatives. The Board of Directors has confidence in Jojo’s experience and his ability to effect and manage change as he brings significant experience in M&A, organizational transformation and a track record in the fintech, venture capital, digital banking and innovation ecosystems.
Jojo will also lead the introduction of PayMongo’s next generation of products and services with a view to better serve its existing client base and drive the advancement of the internet economy in the Philippines and more broadly, Southeast Asia. In addition to this, with the company’s newly issued EMI license, Jojo will continue to focus the organization on driving significant impact in the digital financial services sector.
Jojo previously served as President and CEO of DAVI and JG DEV, the data analytics and venture arm of the Gokongwei Group, respectively. He is co-founder and Chairman of GoTyme Bank, one of the country’s digital banks licensed by the BSP and was previously the former CEO of Wing Bank, a leading digital financial services provider in Cambodia and of Smart Money, now known as PayMaya/Maya. His global fintech experience includes stints with Mastercard Financial Services in Latin America and Cignifi Boston, which brought alternative credit scoring innovation to African emerging markets.
