Xendit provides a payments infrastructure platform that enables businesses to accept payments, disburse payroll, run marketplaces and integrate across multiple local payment methods with 24/7 support. The company serves more than 3,000 customers, including Samsung Indonesia, GrabPay, Ninja Van Philippines, Qoala, Unicef Indonesia, Cashalo and Shopback. Over the last year Xendit tripled annualized transactions from 65 million to 200 million and grew total payments value from $6.5 billion to $15 billion; the company reports sales growth of about 10% month-over-month since its 2016 inception. Xendit has made strategic investments to support market entry and local infrastructure, including stakes in Bank Sahabat Sampoerna and the Philippines payment gateway Dragonpay. It says it will continue reinvesting in new markets, enhancing the Xendit platform, expanding business lines and diversifying products with value-added services such as lending programs already started in Indonesia. The company positions itself as a hyper-localized payments provider to address access, reliability and regulatory needs across Southeast Asia. Xendit provides digital payment infrastructure that lets businesses accept payments via live payment URLs, web and mobile checkouts with e-commerce plugins, and APIs. The company processes $9 billion in total payment volume annually and reported more than 200% year-over-year growth in payments volume. Its customers range from SMEs to large regional tech platforms including Traveloka, Wise, Wish and Grab, and it had 10,000 SME sign-ups by August. Xendit has expanded regionally, entering the Philippines and saying it is now one of the biggest payment players there, and it plans further expansion into markets such as Malaysia and Vietnam. Beyond payments, Xendit is experimenting with working capital loans for merchants and exploring credit card issuing with partners while planning to launch additional value-added services. The company emphasizes hiring local teams and partnerships to solve market-specific payment problems and has made a strategic investment in Dragonpay. Xendit builds digital payments infrastructure that lets businesses accept payments across Indonesia and the Philippines via a single integration. Its platform supports online payments, marketplaces, payroll distribution, financial management and fraud detection using machine learning. The company processes more than 65 million transactions worth about $6.5 billion in payment value annually. Xendit has reported rapid growth—COO Tessa Wijaya said its CAGR has increased by 700% annually and customer count grew 540% in 2020—and has doubled headcount to over 350 employees. Customers include Traveloka, TransferWise, Wish and Grab. The company declined to disclose hard revenue figures or its current valuation.

Total raised

$515M

Funding rounds

3

Latest round

Series D

Latest activity

May 2022