Xendit PH to launch pioneer payments solutions and create new opportunities for Filipinas in tech

During its mid-year media event, Xendit promised to carry out more initiatives to strengthen its presence in the country.

Top executives and key speakers from Xendit PH, Insight Partners, and DragonPay

Xendit announces its expansion and more funding for key initiatives

Since its birth in 2016, the fintech company has continued increasing sales by more than 10 percent month-over-month globally and 30 percent month-over-month in the Philippines. Over the last year, Xendit tripled its yearly transactions from 65 million to 200 million and increased its total payment value from USD 6.5 billion to USD 15 billion.   

Recently, it was able to hit a milestone by completing its USD 300M Series D funding round. The company says that its total capital had reached USD 538M with additional funding from investors such as Coatue and Insight Partners, Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo, and Justin Kan's Goat Capital. 

General Partner at Coatue Luca Schmid added that their company believes that Xendit is capturing a formative opportunity in Southeast Asia. He said that it got deep local expertise, a modern tech stack, and a customer-centric approach.

Basically, Xendit offered payment solutions for customers of all sizes - from individual sellers to MSMEs, growth-stage startups, and even large enterprises. Xendit said that it aims to pave the way for other Filipino startups, establish partnerships with local communities, and support regulators in their digitization goals.  

 

CEO and Managing Director of Xendit PH Yang Yang Zhang continued that their local team has expanded continuously from a small team of multi-taskers. She also added that the funding will allow the company to allocate more resources to its two endeavors. 

One is empowering women in tech and the other one is supporting NGOs that directly help the local community. Zhang shared,

As a woman who has spent her entire career in male-dominated tech industries, I am deeply invested in lowering the barriers to entry for Filipina women interested in technology. Education has always been the fastest way to level the playing field, and I’m so happy that Xendit will be investing directly into making tech education and career training more accessible for Filipina women everywhere.

At the same time, Xendit PH said that it will also look for new ways to give back to local communities. For example, it offered discounted rates, shorter settlement time, and priority onboarding to those collecting donations for Typhoon Odette relief a year ago.

 

Xendit also announced its investment and partnership in local and long-standing payment gateway Dragonpay. It also expressed its commitment to investing in more local Filipino startups that share its philosophy of community-minded growth and scalable, customer-centric solutions.  

 To learn more about Xendit and its services, you may visit its official website.