• March 28, 2024

Xendit, one of the fastest-growing payments infrastructure platforms in Southeast Asia, has raised $300 million from its recently concluded Series D funding round and is committing this to support local SMEs and startups, back women in tech initiatives, build better payment solutions, and streamline business processes.

This recent funding round brings its total capital raised to $538 million.

“We are so excited to apply this latest round of funding to further our existing growth initiatives while investing into even more new initiatives to accelerate the Philippine digital economy,” said Yang Yang Zhang, CEO & Managing Director of Xendit Philippines.  

“Not only will we double down on launching first-to-market payments solutions and building world-class financial infrastructure, but we will also partner deeply with regulators, create new opportunities for Filipina women in tech, and push the frontiers of fintech innovation,” she added.

Known as the “Stripe of Southeast Asia,” Xendit democratizes payments solutions for customers of all sizes – from individual sellers to MSMEs, growth stage startups, and even large enterprises. Backed by some of the most prominent investors in Silicon Valley, Xendit hopes to serve as a lighthouse to draw more VC attention to the growing Filipino startup scene.  

This infusion of funding will allow Xendit Philippines to commit more resources to two key initiatives: empowering Women in Tech and subsidizing non-profit organizations that directly assist the local community.  

“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,” said Zhang.  

Xendit continues to seek new ways to give back to local communities, both directly and by empowering others who do so. Last year, the company offered discounted rates, shorter settlement time, and priority onboarding to those collecting donations for Typhoon Odette relief. Now, it pledges to continue extending this support for all qualified NGOs and non-profit organization.

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