Indonesian digital payments infrastructure provider Xendit and Singapore-based Carousell are two of Southeast Asia’s newest unicorns.
Xendit has raised a $150 million Series C, putting the corporate on the short list of Southeast Asian unicorns. Companies starting from small kiosks (warungs) to SMBs and huge players corresponding to Transferwise and Grab use Indonesia’s API-based Xendit technology to process payments, run marketplaces, pay wages and detect fraud.
The company, which says it handles greater than 65 million transactions annually price $6.5 billion in payments, intends to make use of the brand new funds to scale its business, which operates mainly in Indonesia and the Philippines.
“It is now clear that companies need to have an online presence,” says Moses Lo, co-founder and CEO of Xendit. “Xendit’s digital payments infrastructure enables a brand new class of entrepreneurs within the region to start out and scale payments faster, and provides additional advantages to larger businesses with modern, world-class financial services. What AWS did for Compute, Xendit does for payments.”
The recent funding comes just six months after the corporate raised $64.6 million in a Series B round led by Accel.
The latest round was led by Tiger Global Management with participation from existing investor Accel, Amasia and Justin Kan’s Goat Capital.
Meanwhile, Singaporean online classifieds company Carousell said it has raised $100 million in recent funding that values the corporate at greater than $1 billion. It is currently valued at $1.1 billion, making it Southeast Asia’s newest unicorn and a startup price over $1 billion.
People are increasingly turning to e-commerce for his or her shopping needs, putting corporations like Carousell and others in a chief position to tap Southeast Asia’s $300 billion online economy.
(various sources)
