Non-aligned

Neutral payment gateway to soonicorn, the stakes keep rising for Xendit

Xendit’s riding on the coattails of Indonesia’s digital economy boom, clocking a 146% growth in transaction value in the first half of the year. While it’s catching the eye of global VCs now—potentially Tiger Global—its stance against the local tribal tech ecosystem will no longer be enough

Nadine Freischlad, 9 Sep 2021

An incoming funding round will catapult Xendit’s valuation to over US$1B making the payments processor Indonesia’s latest startup unicorn

Its journey to scale in Indonesia has been unique, because it got there without tapping existing networks like GoTo, Sea, and Grab

As a payment gateway, staying neutral paid off. Paired with an innovative product portfolio and good execution, Xendit made a name for itself regionally

But what’s next after this stage of growth? Winning enterprise clients is harder, and monetising MSMEs even more so

The year of accelerated growth accelerated growth The Ken How will GoTo get global investors to go to Indonesia? Read more in Indonesia’s digital economy is about to lift yet another local startup into unicorn status.

It was only in March that digital payments infrastructure provider Xendit announced announced Xendit Xendit Raises US$64.6 Million Series B Led by Accel to Scale Its Digital Payments Infrastructure Read more its US$64.6 million Series B round, led by American venture capital firm Accel.

AUTHOR

Nadine Freischlad

Nadine is based in Indonesia. She covers Southeast Asia's super apps, the changing nature of work and employment, and other structural shifts happening as a result of digital disruption.

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