JAKARTA. Coatue and Insight Partners have led the series D funding for the financial technology (fintech) start-up, Xendit, investing USD 300 million or IDR 4.3 trillion. With this fresh amount added, the total funding that Xendit has raised clocks up to USD 538 million.
There are at least 7 companies participating in this funding round. They are Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo, dan Goat Capital. Xendit hopes that scoring this much of funding will reaffirm the company’s vision to promote digital economic growth in the Southeast Asia, which might be worth over USD 300 billion by 2025, as it mentioned in its LinkedIn.
In the series C funding lead by Tiger Global Management in September 2021, Xendit managed to collect the funding of USD 150 million. At that time, the said investment has made Xendit the first financial startup to earn the unicorn status.
“With this new round of funding, we are committed to continue invest in new markets, develop Xendit platform, and extend our business scope so that we could promote the business throughout the Southeast Asia,” Xendit added in its LinkedIn profile, quoted by Bisnis earlier today (20/5). Not that long ago, Xendit officially enters as the minor portion of PT Bank Sahabat Sampoerna with a claim over 14.96% of the shares. (AM/ZH)