XENDIT
14.9.2021 15:07:07 CEST | Business Wire | Press release
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
New Iconic Landmark Danjiang Bridge Opened to Redefine Taiwan18.5.2026 12:02:00 CEST | Press release
The Danjiang Bridge, one of Taiwan’s most significant recent public infrastructure projects, officially opened with a series of large-scale public events, transforming the bridge into a new cultural landmark and civic space. The program featured the “Danjiang Bridge Together Arts Festival,” immersive public activities, and a special performance of Light Chain by Cloud Gate Dance Theatre, symbolizing the integration of architecture, engineering, and the arts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260517667930/en/ The Danjiang Bridge is an iconic landmark in Taiwan with global recognition. (Photo via Highway Bureau , Motc) Spanning the mouth of the Tamsui River, the bridge serves as both a major transportation project and a recognizable architectural landmark, establishing a new urban symbol for Taiwan. Designed by Zaha Hadid Architects, the project gained international attention throughout its development and was sel
Arboris Capital Selects ROYC to Expand Private Markets Capabilities on CapGain Platform18.5.2026 09:00:00 CEST | Press release
Arboris Capital Limited (“Arboris”), a DIFC-based firm arranging alternative investments, authorised by the Dubai Financial Services Authority (DFSA), today announced that it has selected ROYC AB (“ROYC”), a private markets technology and infrastructure provider, to support the continued development of its private markets offering through its platform, CapGain. In its ongoing efforts to expand its private markets capabilities across the Middle East, Arboris has undertaken a strategic review of how to further scale its offering while maintaining the integrity of its existing platform. As a result, Arboris has chosen to integrate ROYC’s fund access, sourcing, and structuring capabilities into CapGain, complementing its existing infrastructure. CapGain is Arboris’s proprietary investment platform, purpose-built to facilitate access between international private market opportunities and Professional Investors in the region. CapGain provides fully digital investor onboarding and KYC, a secu
OdysseyRe Announces New Co-Chief Underwriting Officers for EMEA18.5.2026 09:00:00 CEST | Press release
Odyssey Reinsurance Company (OdysseyRe) today announced the appointments of Tegwen Gromellon and Anne-Claire Serres as co-chief underwriting officers of its EMEA division, effective July 1. They succeed longtime Chief Underwriting Officer, Gaël Le Païh, who is retiring later this year following 36 years with the Company. Based in Paris, Serres joined OdysseyRe in 2018 as the market director for France and will lead the division’s business across France, Africa and the Middle East. Gromellon, who joined OdysseyRe in 2004, has served as market director for Germany, Austria, Benelux and Switzerland since 2019. He will take the lead for the rest of Europe, including the relationship with the Company’s representative office in Stockholm for the Nordic markets and across Turkey. “We are delighted to appoint both Tegwen and Anne-Claire to these important leadership positions,” said Isabelle Dubots-Lafitte, chief executive officer of EMEA for OdysseyRe. “These appointments recognize their sign
LogicMonitor and Deutsche Telekom Expand Partnership Across Europe18.5.2026 09:00:00 CEST | Press release
Expanded availability of LogicMonitor within Deutsche Telekom’s managed services portfolio follows successful operational use in the UKSelect outcomes include reduced reporting times and proactive incident preventionExpansion extends across DACH, Benelux, and the Nordics LogicMonitor®, the AI-first platform for Autonomous IT, today announced the expanded availability of its platform within Deutsche Telekom’s managed services portfolio across selected European markets, including DACH, Benelux, and the Nordics. The expansion builds on operational use of LogicMonitor in the United Kingdom since 2023, where it has supported Deutsche Telekom’s service teams in improving visibility across network, cloud, and hybrid infrastructure environments. Experience gained from these deployments is now informing broader service enablement across additional European markets. As enterprise IT environments grow more complex, organisations require more than visibility—they need predictive resilience. Throug
Prokarium Reports Positive Interim Data from Phase 1/1b PARADIGM-1 trial of ZH9 in NMIBC patients, Demonstrating Excellent Safety and Encouraging Early Efficacy18.5.2026 09:00:00 CEST | Press release
ZH9 is very well tolerated with a favourable safety profile, and no dose-limiting toxicities or Grade ≥3 drug-related adverse events reported.ZH9 demonstrates 91% freedom-from-relapse in NMIBC patients who have reached study end.Company plans to run a larger phase 2 study across a range of patient populations spanning intermediate risk and high risk including CIS. Prokarium, a clinical-stage biopharmaceutical company pioneering bacterial immunotherapies for the treatment of solid tumours, today announced safety and antitumour efficacy results from an interim review of the ongoing Phase 1/1b PARADIGM-1 trial of ZH9 in non-muscle invasive bladder cancer (NMIBC) patients. These data were shared via an oral podium presentation at the American Urology Association (AUA26) Annual Meeting. Prokarium CMO, Dr Josefin-Beate Holz said “These data demonstrate ZH9 as a universally applicable treatment for patients. As the treatment is very well tolerated and is showing impactful outcomes for early a
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