Funding round
Xendit Series C
Xendit, which works in digital payment solutions delivery in Special Capital Region of Jakarta, raised $150M in a Series C round announced on 14 Sep 2021, led by Tiger Global, at a $1.00B post-money valuation. 4 firms took part. It is Xendit's third venture round on record; the one before was a Series B in Mar 2021.
$150M
Amount raised
$1.00B
Post-money valuation
$850M pre-money
4
Investors
1 lead
15%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Xendit at $1.00B after the new money. The $150M bought investors about 15% of the company. It came 6 months after Xendit's Series B. It is 28% of the $535M Xendit has raised in the venture rounds on record. Xendit raised again 8 months later: a Series D round of $300M in May 2022.
Xendit's funding rounds
Xendit has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Tiger Global led the round with 3 other firms.
Lead investor
- Tiger Global backs 391 venture-backed companies new investor
Also in the round
- Accel backs 581 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- backs 32 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
46 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $69M, and this round was 2.2 times the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 27 Sep 2021 | $150M | $1.50B | Charoen Pokphand Group |
| Payment Processing & Point of Sale | 25 Oct 2021 | $100M | $640M | Dawn Capital |
| Payment Processing & Point of Sale | 8 Oct 2021 | $80M | not disclosed | not named |
| Payment Processing & Point of Sale | 25 Oct 2021 | $30M | not disclosed | Norwest and Cota Capital |
| Payment Processing & Point of Sale | 14 Oct 2021 | $15M | not disclosed | Mosaik Partners |
| Payment Processing & Point of Sale | 17 Nov 2021 | $150M | $2.15B | Coatue |
| Payment Processing & Point of Sale | 27 Jul 2021 | $83M | not disclosed | Dragoneer Investment Group |
| Payment Processing & Point of Sale | 28 Jul 2021 | $60M | $800M | Stripes |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Xendit raise in its Series C round?
Xendit raised $150M in its Series C round, announced in Sep 2021.
Who led Xendit's Series C round?
Tiger Global led it, with Accel, Amasia and GOAT CAPITAL.
What was Xendit's valuation at the Series C round?
$1.00B post-money ($850M pre-money).
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
46 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $69M, and this round was 2.2 times the median.
Did Xendit raise again after this round?
Yes: a Series D round in May 2022 of $300M.