Total amount raised
$300 Millions
Latest funding date
May, 2022
Location
Xendit has successfully raised significant funding across multiple rounds, with notable investors such as Tiger Global Management and Accel. The platform offers a comprehensive suite of digital payment solutions tailored for businesses of all sizes.
Keep reading to explore the intricacies of Xendit's fundraising journey and the investors backing this innovative platform.
What Is Xendit?
Xendit, founded in 2014 in Jakarta, Indonesia, is a leading fintech company in Southeast Asia. The company was established by Moses Lo, Tessa Wijaya, Bo Chen, and Juan Gonzalez.
Specializing in digital payment solutions, Xendit offers services such as Payment Gateway, Virtual Accounts, E-wallets, QR Codes with QRIS, Direct Debit, and PayLater. Their infrastructure supports businesses of all sizes, from SMEs to large enterprises.
With a workforce of 501-1000 employees, Xendit continues to expand its reach across Indonesia and the Philippines, providing reliable and efficient payment processing solutions.
How Much Funding Has Xendit Raised?
- Seed Round
- Amount Raised: $120K
- Date: August 2015
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Non-Equity Assistance
- Amount Raised: -
- Date: June 2015
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To receive mentorship and support without diluting equity.
- Series A
- Amount Raised: $20M
- Date: June 2018
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series B
- Amount Raised: $64.6M
- Date: March 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster business capabilities amidst Southeast Asia’s digital transformation.
- Series C
- Amount Raised: $150M
- Date: September 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To innovate product suite and expand into new Southeast Asian markets.
- Series D
- Amount Raised: $300M
- Date: May 2022
- Lead Investors: Coatue, Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To reinvest in new markets, enhance the platform, and expand business lines.
Xendit has raised a total of $538 million in funding. The current valuation is not publicly disclosed.
Key Investors
- Coatue
- Details: Coatue is a global technology-focused investment firm. They are known for their significant investments in high-growth sectors.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
- Notable Investments: Snapchat, DoorDash, ByteDance.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They specialize in scaling software and internet companies.
- Investment Focus Areas: Software, internet, data services.
- Notable Investments: Twitter, Shopify, Wix.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. They have a strong focus on technology and consumer sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. They have a history of backing successful startups.
- Investment Focus Areas: Consumer, enterprise, financial technology.
- Notable Investments: Facebook, Slack, Dropbox.
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm that specializes in investing in early-stage, growth, and incubation companies. They are known for their influential role in the tech industry.
- Investment Focus Areas: Technology, life sciences, healthcare.
- Notable Investments: Google, Amazon, Twitter.
What's Next for Xendit?
As Xendit looks to the future, the opportunities for growth are immense. The company plans to expand its operations into new markets such as Thailand, Malaysia, and Vietnam, tapping into Southeast Asia's rapidly growing digital economy. With the region's digital economy projected to be worth over $360 billion by 2025, Xendit is well-positioned to capitalize on this growth by enhancing its payment solutions and investing in local financial services.
Given the substantial financial backing from its recent $300 million Series D funding, Xendit is likely to attract further investment to support its ambitious expansion plans. Future fundraising rounds could provide the necessary capital to scale operations and innovate its product offerings. However, the company will need to navigate regulatory challenges and intense competition from other fintech firms in the region. Ensuring the scalability and reliability of its payment infrastructure will be crucial as it continues to grow.
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