XENDIT
Xendit, the fastest growing payments infrastructure for Southeast Asia, today announced a $150 million Series C that elevated the company to a short list of Southeast Asia unicorns. The round was led by Tiger Global Management with participation from existing investor Accel, Amasia, and Justin Kan’s Goat Capital.
With the latest investment, Xendit plans to continue innovating their product suite, with sights on expansion into select countries across Southeast Asia. The region presents a particularly compelling backdrop for innovation and disruption, with 70 percent of the region's 580 million people now online. In 2021, the region’s digital economy will exceed US$100 billion and is projected to triple to more than US$300 billion by 2025.
“We’re seeing an incredible shift to digital first. Whether the business is a small Instagram shop or Southeast Asia’s largest enterprises, it’s now clear that businesses need to have a digital presence,” said Moses Lo, co-founder and CEO, Xendit. “Xendit’s digital payments infrastructure enables the region’s new class of entrepreneurs to start and scale their payments faster, and supercharges larger companies with modern, world-class financial services. What AWS has done for Compute, Xendit is doing for payments.”
By building hyper-localized products in a region with over 23,000 islands and a broad diversity of customer needs, Xendit has been able to build first-in-market products, provide unparalleled customer service, and quickly adapt to a dynamic region.
“At Xendit we’ve seen more than 200 percent year-over-year increase in total payments volume across Indonesia and the Philippines, continuing our track record of more than 10 percent month-over-month growth since our inception,” said Tessa Wijaya, co-founder and COO, Xendit. “Our new status as a unicorn will help strengthen the mission we initially set out to achieve - to provide reliable and secure financial infrastructure to millions of businesses across Southeast Asia, allowing them to grow and thrive in the burgeoning digital economy.”
Xendit is providing a solution to Southeast Asia’s specific reliability and infrastructure hurdles by expanding access to technologies that create an equal playing field, and enabling businesses and people in the region to scale and thrive. Following their success in Indonesia, Xendit entered the Philippines and - within a year - has become one of the largest payments players in the Philippines.
“Xendit’s digital payments infrastructure, built specifically for Southeast Asia, is quickly becoming the standard for financial operations in the region,” said Alex Cook, Partner, Tiger Global Management. “By providing a reliable and secure payment gateway, Xendit has created an on-ramp to the digital economy for businesses across the region. We are excited to partner with Xendit as they continue to scale.”
Xendit announced in March a Series B led by Accel. The company has now raised a total of $238 million since 2015. Xendit was also the first Indonesian tech startup to pass through the acclaimed incubator YCombinator and is the top Southeast Asian company on the YC Top 100 list.
“Xendit is at the forefront of digital transformation in Southeast Asia, providing businesses of all sizes with much needed and essential digital payments infrastructure,” said Ryan Sweeney, partner at Accel. “With this fresh round of funding and a milestone valuation, Xendit has earned the credibility needed for long term success and is inspiring the next generation of unicorns in Southeast Asia. We believe Xendit will thrive in the region.”
About Xendit
Xendit is a financial technology company that provides payment solutions and simplifies the payment process for businesses in Indonesia, the Philippines and Southeast Asia, from SMBs and e-commerce startups to large enterprises. Xendit enables businesses to accept payments, disburse payroll, run marketplaces and more, on an easy integration platform supported by 24/7 customer service. Amidst the fragmented payment landscape in Southeast Asia, Xendit enables businesses to accept payments from direct debit, virtual accounts, credit and debit cards, eWallets, retail outlets, and online installments.
Building the region’s digital payments infrastructure, Xendit is shaping the next generation of scalable businesses across Southeast Asia. Xendit is propelling the region's digital transformation by addressing access, reliability, and regulatory needs to enable more businesses to scale and thrive. As the first Indonesian startup to graduate from YCombinator and backed by global investors and venture capital firms in the region, Xendit powers some of Southeast Asia’s fastest-growing brands including Traveloka, Transferwise, Wish, and Grab. To learn more, visit xendit.co .
About Tiger Global Management
Tiger Global Management is a global investment firm that focuses on private and public companies in the internet, software, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries in all stages of growth, from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Investments have included JD.com, UiPath, Stripe, Databricks, Bytedance, Snowflake, Facebook, Alibaba, Procore, Chime, Blend, Peloton, Attentive, LinkedIn, Flipkart, and Toast.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210914005741/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CoMotion GLOBAL 2025 Launches in Riyadh: Global Mobility Leaders Unite in Saudi Capital to Chart Urban Future7.12.2025 13:00:00 CET | Press release
Summit debuts Mayors in Motion initiative and CoMotion Urban Visionary Distinction as Riyadh showcases its rise as global mobility testbed Riyadh is rapidly becoming one of the world's most ambitious urban mobility laboratories, where next-generation technologies move from blueprint to real-world deployment on city streets at unprecedented scale. CoMotion GLOBAL 2025, the world's most influential gathering of urban mobility leaders, opens today in Riyadh for a three-day summit bringing together innovators from Africa, Asia, Europe, the Americas, and the Middle East. Running December 7-9, the event will explore how electrification, autonomy, AI-enabled transport, and giga-project urbanism are reshaping cities worldwide. The summit will spotlight everything from high-performance EVs and breakthrough autonomous fleets to emerging-market transport solutions and new mobility models, demonstrating how the Kingdom is opening new pathways for global mobility leadership. Strategic Partnerships
Deciphera Announces Oral Presentation of Positive Topline Results from Phase 2a Study of Sapablursen in Polycythemia Vera at the 67th American Society of Hematology (ASH) Annual Meeting6.12.2025 15:30:00 CET | Press release
Results from Phase 2a IMPRSSION study demonstrate sapablursen significantly reduced phlebotomy rate, controlled hematocrit and increased serum hepcidin Sapablursen was generally safe and well tolerated Results support further development of sapablursen in a Phase 3 study Deciphera Pharmaceuticals, a member of Ono Pharmaceutical Co., Ltd. (Headquarters: Osaka, Japan; President and COO: Toichi Takino; “Ono”), today announced the oral presentation of positive results from the Phase 2a IMPRSSION study of sapablursen in patients with polycythemia vera (PV) at the 67th American Society of Hematology (ASH) Annual Meeting, taking place December 6-9, 2025, in Orlando, FL. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251206361611/en/ The results were presented by Ionis Pharmaceuticals, who discovered and developed sapablursen and conducted the IMPRSSION study. In March 2025, Ionis and Ono entered into a license agreement in which On
Protagonist and Takeda Present Longer-Term Data at ASH 2025 Showing Rusfertide Delivers Durable Response and Hematocrit Control in Polycythemia Vera6.12.2025 15:30:00 CET | Press release
52-Week Results from the Phase 3 VERIFY Study of Rusfertide Demonstrated Sustained Hematocrit Control and Response, Defined by Absence of Phlebotomy Eligibility, with No New Safety SignalsThese Data Build on Positive 32-Week Primary Analysis from VERIFY, Which Met its Primary Efficacy Endpoint and All Four Key Secondary EndpointsPatients Crossing Over from Placebo to Rusfertide at 32 Weeks Achieved a Similar Response Rate to Those Initially Randomized to Rusfertide, with 77.9% Achieving Absence of Phlebotomy Eligibility Between Weeks 40-52Four-Year Results from the Combined REVIVE and Long-Term Extension THRIVE Study Demonstrated a 13-Fold Reduction in Annual Rate of Phlebotomies from Baseline Protagonist Therapeutics, Inc. (“Protagonist”) (NASDAQ:PTGX) and Takeda (TSE:4502/NYSE:TAK) announce that new 52-week results from the pivotal Phase 3 VERIFY study evaluating rusfertide in patients with polycythemia vera (PV) will be presented in an oral presentation at the 67th American Society
Vertex Presents New Data on CASGEVY®, Including First-Ever Data in Children Ages 5-11 Years, at the American Society of Hematology Annual Meeting and Announces Plan for Global Regulatory Submissions6.12.2025 13:01:00 CET | Press release
- Data from pivotal studies of CASGEVY in children ages 5-11 years with severe sickle cell disease or transfusion-dependent beta thalassemia demonstrates the transformative potential of the therapy in younger patients -- Efficacy and safety data in children 5-11 years are consistent with the durable and positive benefit/risk profile established from clinical studies in patients 12 years of age and older -- Vertex expects to initiate global regulatory submissions for CASGEVY in children 5-11 years in 1H 2026 - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced data from multiple studies demonstrating the clinical benefits of CASGEVY® (exagamglogene autotemcel) in people ages 5 years and older living with severe sickle cell disease (SCD) or transfusion-dependent beta thalassemia (TDT). The results, including the first presentation of clinical data from pivotal studies in children ages 5-11 years, and longer-term data from the pivotal studies of people with severe SCD and
Leading Global Scientists Gather at Tengchong Scientists Forum to Explore Innovative Pathways in Frontier Technologies6.12.2025 12:31:00 CET | Press release
The 2025 Tengchong Scientists Forum opened on Saturday in southwest China’s Yunnan Province, convening leading scientists and academic figures to examine innovation across frontier fields including artificial intelligence, biodiversity and quantum technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251205499197/en/ Opening ceremony of Tengchong Scientists Forum on 6th December, 2025 Notable participants include Nobel Physics laureate Konstantin Novoselov, Fields Medalist Efim Zelmanov and Turing Award winner Andrew Chi-Chih Yao, who join 127 academicians, 77 university presidents from China and abroad, over 400 scholars and more than 600 entrepreneurs and financiers. The gathering aims to deepen collaboration between cutting-edge research and industrial development. Under the theme “Science · AI changing the World,” the forum features ten sub-forums, academic sessions and thematic events supporting major cooperation p
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom