Xendit, a Jakarta, Indonesia-based provider of a payments infrastructure platforms, raised US$300M in Series D funding.
The round was led by Coatue and Insight Partners with participation from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo, and Justin Kan’s Goat Capital.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Moses Lo, and COO Tessa Wijaya, Xendit is a financial technology company that provides payment solutions and simplifies the payment process for businesses in Indonesia, the Philippines and across Southeast Asia, from SMBs and e-commerce startups to large enterprises. It enables businesses to accept payments, disburse payroll, run marketplaces and more, on an integration platform supported by 24/7 customer service. Xendit enables businesses to accept payments from direct debit, virtual accounts, credit and debit cards, eWallets, retail outlets, and online installments.
Over the last year, the company tripled annualized transactions from 65 million to 200 million and increased total payments value from $6.5 billion to $15 billion. It now serves more than 3,000 customers. Xendit is also 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. To complement its expansion into the Philippines, Xendit made a strategic investment into local payment gateway, Dragonpay.