Xendit, an Indonesian payments processing platform that markets itself as an alternative to Stripe, has raised $300 million. Xendit hopes to capitalize on the region’s growing internet industry with expansion into Thailand, Malaysia, and Vietnam. COO Tessa Wijaya reported that over the previous year, Xendit processed $15 billion in payments in Indonesia and the Philippines, up from $6.5 billion the year before. Xendit’s current round of fundraising was led by U.S.-based private equity firm Insight Partners and hedge fund Coatue, with additional funds from Tiger Global Management, Accel, Kleiner Perkins, and East Ventures.
Indonesian Stripe Rival Xendit Raises $300 Million, Eyes Regional Expansion | Technology News