Southeast Asia adds another unicorn as Jakarta-based Xendit closes a Series C funding round, raising US$150 million and crossing the US$1 billion valuation mark.
Xendit is famous for its digital payment infrastructure but also offers a wide variety of other financial solutions.
The round was led by Tiger Global Management, with commitments from existing backers such as Accel, Amasia, and Goat Capital, a venture capital co-founded by ex-Y Combinator partner Justin Kan.
Xendit set a remarkable record in 2015 when it became the first startup out of Indonesia to participate in the accelerator program.
This new capital injection comes on the heels of an Accel-led US$64.6 million Series B, round which closed just 6 months ago. Total financing acquired by the firm so far stands at US$238 million.
Xendit was launched in 2015 by co-founder and CEO Moses Lo alongside co-founder and COO officer Tessa Wijaya.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.