Xfers builds API-driven payments infrastructure that allows merchants to accept bank transfers, e-wallet balances and cash payments collected by agent networks. Launched six years ago, the company has expanded from a single bank-transfer API to a full suite that also covers fund disbursement tools and a cryptocurrency wallet. Its rails already give clients access to more than 10 million under-banked consumers in Indonesia through partnerships with agent banking services such as Payfazz. In 2020 Xfers secured a Major Payment Institution licence for e-money issuance from the Monetary Authority of Singapore. Looking ahead, the firm plans to release a zero-integration payment solution for Singapore merchants and a single-integration product that unifies payment methods across Southeast Asia. Geographic expansion into Thailand, the Philippines, Malaysia and Vietnam is also on the roadmap. Financially, Xfers has just received a US$30 million strategic investment from Indonesian fintech Payfazz and had previously raised a US$2.5 million round to support its early growth.

Total raised

$33M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2021