RI Unicorn Startup Xendit Injected with IDR 4.3 T, Ready for Expansion to 3 Countries

Jakarta –

start-up (startup) which is wrong unicorn Indonesia, Xendit announced that it has just pocketed series D funding of USD 300 million or equivalent to Rp. 4.3 trillion.

The funding source was led by Coatue and Insight Partners, with additional investments from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo and Justin Kan’s Goat Capital.

Xendit’s total funding so far has reached USD 538 million, further strengthening the company’s ability to support growth digital economy fastest in the world, namely Indonesia.

“Through this new funding, we are committed to continuing to invest in new markets, develop the Xendit platform, and expand our business lines so that we can maximize existing opportunities,” explained Xendit Co-founder and CEO Moses Lo in a written statement received by detikINET, Friday (20/5/2022)

“Mark digital economy Southeast Asia will reach USD 360 billion by 2025 and we believe Xendit is well positioned to contribute and benefit from this growth.”

Meanwhile, Tessa Wijaya as Co-founder and COO Xendit added, Xendit will continue to expand into new areas – such as Thailand, Malaysia, and Vietnam – where the company can identify the needs of businesses there and provide the right payment infrastructure solutions.

“We also plan to provide a wider and varied service, such as the loan program that we have run in Indonesia,” he said.

To serve more startup and MSMEs in Indonesia and Southeast Asia, Xendit has also taken a number of strategic steps. Recently, Xendit invested in Bank Sahabat Sampoerna, an Indonesian private bank that focuses on micro and MSME businesses, and offers services banking-as-a-service (BaaS).

Last March, Xendit launched “XENSClub”, the official community of online sellers of Xendit which has many educational programs to help members develop themselves and their online business.

Meanwhile, last year, Xendit also made a strategic investment in DragonPay, as part of its expansion into the Philippines.

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(eight / afr)

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