What is Xendit?
Xendit is a Southeast Asian fintech company that provides payment infrastructure across Indonesia and the Philippines. Xendit processes payments, runs marketplaces, disburses payroll and loans, detects fraud, and helps other businesses grow exponentially. Xendit serves these companies by providing a suite of world-class APIs and a dashboard UI that simplifies processes.
About the investment
Sajid, the GP of MyAsiaVC, met the team and invested in Xendit in 2015 when they had just started. Moses was referred to MyAsiaVC from Sajid’s network in Silicon Valley
Founders had great founder/market fit and domain expertise.
Founders were both scrappy and resourceful, able to secure large strategic partnerships very quickly
Business built on the tailwinds of the demographics trend and digitalization sweeping across Indonesia
Incumbent players all provided a poor customer experience
Started helping them as an advisor as well as an investor
Started introducing them to the senior bankers for initial partnership
Helped with the recruitments of CXOs