Funding round
Xendit Series B
Xendit, which works in digital payment solutions delivery in Special Capital Region of Jakarta, raised $65M in a Series B round announced on 2 Mar 2021, led by Accel. 2 firms took part, 2 of them already investors. It is Xendit's second venture round on record; the one before was a Series A in Jun 2018.
$65M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
Xendit did not disclose a valuation in this round. It came 33 months after Xendit's Series A. It is 12% of the $535M Xendit has raised in the venture rounds on record. Xendit raised again 6 months later: a Series C round of $150M in Sep 2021, at $1.00B post-money.
Xendit's funding rounds
Xendit has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Accel led the round with 1 other firm. Accel and Y Combinator had backed Xendit before.
Lead investor
- Accel backs 581 venture-backed companies existing investor
Also in the round
- Y Combinator backs 1,295 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
68 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $44M, and this round was 1.5 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 16 Mar 2021 | $25M | not disclosed | Desjardins Group and EPIC Ventures |
| Payment Processing & Point of Sale | 26 Mar 2021 | $11M | not disclosed | Carthona Capital and Alceon |
| Payment Processing & Point of Sale | 16 Mar 2021 | $10M | $70M | Flourish Ventures and Omidyar Network India |
| Payment Processing & Point of Sale | 15 Apr 2021 | $30M | not disclosed | Sam Altman and Jack Altman |
| Payment Processing & Point of Sale | 17 Feb 2021 | $6.0M | not disclosed | Evolem |
| Payment Processing & Point of Sale | 11 May 2021 | $190M | not disclosed | Coatue |
| Payment Processing & Point of Sale | 1 Jan 2021 | $60M | not disclosed | not named |
| Payment Processing & Point of Sale | 20 May 2021 | $43M | not disclosed | Bessemer Venture Partners |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Xendit raise in its Series B round?
Xendit raised $65M in its Series B round, announced in Mar 2021.
Who led Xendit's Series B round?
Accel led it, with Y Combinator.
What was Xendit's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
68 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $44M, and this round was 1.5 times the median.
Did Xendit raise again after this round?
Yes: a Series C round in Sep 2021 of $150M at $1.00B post-money.