Xendit, an Indonesia-based payments company aiming to become the "Stripe of Southeast Asia", has now become the next unicorn in the region.
The company is now valued at over $1 billion with the close of its most recent funding round.
- Xendit has raised $150 million in a Series-C funding round, bringing the company's valuation to over $1 billion.
- The funding round was led by Tiger Global Management, with the participation of returning investors Accel, Amasia, and Goat Capital.
- The fresh funds will be used to expand the company's offerings across Southeast Asia.
- Xendit is also the first startup from Indonesia to make it into Y Combinator's accelerator program.
Why It Matters
- Xendit is currently one of the market leaders for payments in both Indonesia and Philippines.
- To date, the company has raised a total of $238 million in funding, with its most recent round being just 6 months ago at $64.6 million.
- Xendit has experienced over 200% year-over-year increase in total payments volume (TPV), processing over $9 billion per annum.