Southeast Asian fintech Xendit raises $300 million

Oluwajuwonlo Afolabi -

Xendit, a payment infrastructure company based in Southeast Asia has raised $300 million in its new funding round bringing it to $538 million raised so far.

  • Part of the funds will be used to expand into new markets in Thailand, Malaysia and Vietnam, the company claims.
  • Launched in 2015, Xendit is offering alternative payment methods for merchants in Southeast Asia where there is low credit card penetration.
  • The fintech company scaled its transactions rate from 65 million to 200 million and $6.5 billion total payments to $15 billion payments over the last year.
  • The funding round for the unicorn was led by Coatue and Insight Partners with participation from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo and Goat Capital.