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Indonesian Stripe Rival Xendit Raises $300M

payments
  • May 21, 2022
  • Insights, Payments

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

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