An event platform built for your creative efforts to succeed.

Indonesia fintech Xendit to empower SEA startups, SMEs in latest funding

Indonesia fintech Xendit to empower SEA startups, SMEs in latest funding
  • Trying to make sense of overflowing marketing data and information? Join marketing leaders from BigPay, Entropia, MSL Malaysia, Popeyes, and Vase.ai uncover the best approaches this July 27 at Consumer Insights Power-Up 2022. Register now for FREE!

Jakarta, Indonesia – Xendit, an Indonesian fintech, has raised US$300m in their series D funding, aiming to empower startups and SMEs in the Southeast Asian region. In total, Xendit has raised a total of US$538m in funding.

Coatue and Insight Partners co-led the round with additional investment from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo, and Justin Kan’s Goat Capital.

Xendit has been making strategic investments that serve startups and SMEs in Southeast Asian countries. The company recently invested in Bank Sahabat Sampoerna, a private bank in Indonesia that focuses on micro and SME businesses, as well as banking-as-a-service for technology-enabled businesses. 

Meanwhile, to complement its expansion into the Philippines, Xendit made a strategic investment into the leading local payment gateway, Dragonpay, doubling down on its commitment to modernising hyper-localised payments infrastructure in each market it enters.

Tessa Wijaya, co-founder and COO at Xendit, said, “We will continue to deliver access to Xendit’s payments products and services to enable more businesses and people in the region to participate in the digital economy. Xendit will continue to expand into new markets – like Thailand, Malaysia and Vietnam – where we can identify a need that doesn’t exist, similar to what we did in the Philippines. We plan to diversify our products with value-added services, like lending programs we’ve already started in Indonesia.”

Over the last year, Xendit tripled annualised transactions from 65 million to 200 million and increased total payments value from US$6.5b to US$15b.

  • Box_2022 Global Customer Engagement Review

    The voice of 1,500+ global marketing decision-makers is collected to bring you the top trends in customer engagement for this year. Learn more about the state of customer engagement in APAC. Download the 2022 Global Customer Engagement Review.

  • The Brand Love 2022 report is here. In this report, Talkwalker and Hootsuite analysed over 1,500 brands to identify the ones driving consumer passion globally and in Southeast Asia. Learn how these brands are engaging their audience and how you can boost your own brand love – download the report now.

Share this story