Total amount raised
$300 Million
Latest funding date
5/1/2022
Location
Xendit has successfully raised funding over six rounds, with the latest being a Series D round involving 12 investors, including Coatue and Insight Partners. The company has also made eight investments and acquired two organizations, with the most recent acquisition being Payex.
Keep reading to explore the intricacies of Xendit's fundraising journey and the investors backing this innovative platform.
What Is Xendit?
Xendit is a fintech company headquartered in Jakarta, Indonesia, specializing in end-to-end digital payment solutions. The company serves small and medium-sized businesses (SMBs), e-commerce startups, and large enterprises across various industries, including finance, financial services, fintech, and payments.
Founded in an unspecified year, Xendit has grown to employ between 501 and 1000 people. The company operates primarily in Indonesia but also serves multiple countries in Southeast Asia, including the Philippines, Malaysia, Thailand, Vietnam, and Singapore.
How Much Funding Has Xendit Raised?
- Seed Round
- Amount Raised: USD 120,000
- 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
- Date: June 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To receive mentorship and resources without diluting equity.
- Series A
- Amount Raised: USD 20,000,000
- Date: June 2018
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach in Southeast Asia.
- Series B
- Amount Raised: USD 64,600,000
- Date: March 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deliver more secure and reliable economic success in the region and bolster businesses of all sizes amidst Southeast Asia’s rapid digital transformation.
- Series C
- Amount Raised: USD 150,000,000
- Date: September 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue innovating the product suite and expand into select countries across Southeast Asia.
- Series D
- Amount Raised: USD 300,000,000
- 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 Xendit platform, and expand business lines.
Xendit has raised a total of USD 534,720,000. The current valuation is Not publicly disclosed.
Key Investors
- Coatue
- Details: Coatue is a global technology-focused investment firm known for investing in both public and private markets. The firm has a strong presence in the technology, media, and telecommunications sectors.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors
- Notable Investments: ByteDance, DoorDash, Snap Inc.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in growth-stage technology, software, and internet businesses. The firm has a history of supporting companies through various stages of growth.
- Investment Focus Areas: Software, internet, data services
- Notable Investments: Twitter, Shopify, Wix
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on private and public companies in the global internet, software, consumer, and financial technology industries. The firm is known for its aggressive investment strategy.
- Investment Focus Areas: Internet, software, consumer, financial technology sectors
- Notable Investments: LinkedIn, Spotify, Stripe
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. The firm has a strong track record of backing successful startups.
- Investment Focus Areas: Early-stage technology companies, growth-stage technology companies
- Notable Investments: Facebook, Dropbox, Slack
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm specializing in investing in early-stage, growth, and incubation companies. The firm has a long history of supporting innovative technology and life sciences companies.
- Investment Focus Areas: Technology, life sciences
- Notable Investments: Google, Amazon, Twitter
What's Next for Xendit?
Xendit stands at the cusp of significant opportunities, driven by the rapid growth of Southeast Asia's digital economy. With plans to expand into new markets like Thailand, Malaysia, and Vietnam, the company is poised to capitalize on the region's increasing demand for digital payment solutions. The substantial $300 million Series D funding underscores the vast potential for growth, enabling Xendit to enhance its platform and diversify its product offerings.
Future fundraising appears promising, given the strong interest from major investors like Coatue and Insight Partners. As Xendit continues to scale, additional funding rounds could support further expansion and strategic acquisitions. However, the company may face challenges such as navigating regulatory environments and competing with other fintech firms. Ensuring the scalability and reliability of their payment infrastructure will be crucial as they grow.
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