Xendit, an Indonesian fintech company, secured $150 million in Series C funding led by Tiger Global Management, elevating its valuation to $1 billion and supporting its expansion into new markets and product offerings.

Information on the Target

Jakarta-based fintech company Xendit has emerged as a significant player in Southeast Asia's digital payment landscape. Established in 2015 by CEO Moses Lu and COO Tessa Wijaya, Xendit offers a range of digital payment solutions that cater to businesses of all sizes, from small and medium enterprises (SMEs) to major corporations. Recently, Xendit raised $150 million in a Series C funding round, enhancing its valuation to $1 billion and solidifying its status as a unicorn.

The company is particularly recognized for its innovative digital payment infrastructure, which has facilitated its expansion into various Southeast Asian markets, including the Philippines where it claims to be one of the leading payment providers. Notably, Xendit aims to offer comprehensive financial services beyond payments, tapping into emerging opportunities in lending and credit card issuance.

Industry Overview in Indonesia

The fintech sector in Indonesia has witnessed remarkable growth, driven by the increasing adoption of digital payment solutions and a burgeoning internet economy. In recent years, digital payment services have transitioned from traditional methods to more versatil