ARTICLE AD BOX
Southeast Asia payments level Xendit connected Tuesday (Sept. 14) finalized a Series C backing circular that generated $150 million, successful the process cracking the $1 cardinal people successful wealth raised.
Tiger Global Management led the latest fundraising round, which made Xendit a unicorn — a rarity for companies successful the region. Accel, Amasia and Justin Kan’s Goat Capital were among the different investors.
Xendit volition usage the wealth to make its caller and existing products and volition enactment connected expanding into “select countries” crossed Southeast Asia, wherever 70 percent of the 580 cardinal radical online successful the portion live.
“We’re seeing an unthinkable displacement to digital-first,” said Moses Lo, co-founder and CEO, Xendit. “Whether the concern is simply a tiny Instagram store oregon Southeast Asia’s largest enterprises, it’s present wide that businesses request to person a integer presence.
“Xendit’s integer payments infrastructure enables the region’s caller people of entrepreneurs to commencement and standard their payments faster, and supercharges larger companies with modern, world-class fiscal services,” helium said.
The region’s integer system volition transcend $100 cardinal this twelvemonth and is projected to apical $300 cardinal by 2025. Xendit is primed to beryllium close successful the mediate of the growth, said Tessa Wijaya, co-founder and main operating officer.
“We’ve seen much than 200% year-over-year summation successful full payments measurement crossed Indonesia and the Philippines, continuing our way grounds of much than 10% month-over-month maturation since our inception,” she said successful the Xendit announcement.
Xendit has present raised $238 cardinal since 2015.
Meanwhile, eCommerce and gaming institution Sea Ltd. is aiming to bring successful $6.3 cardinal successful Southeast Asia’s largest fundraising effort successful a determination to accelerate its planetary enlargement done the merchantability of shares and convertible bonds.