(Bloomberg) — Xendit, an Indonesian digital payments firm that recently reached a $1 billion valuation, plans to expand to the rest of Southeast Asia.
The company will also seek to broaden its product offering in the next few years to help businesses verify customers and let them manage merchants, Tessa Wijaya, co-founder and chief operating officer, said in a Bloomberg Television interview with Haslinda Amin and Rishaad Salamat.
Xendit seeks to be a “one-stop shop” for merchants looking to shift online as it understands the various payment behaviors in each country, Wijaya said. “Hopefully we can replicate that playbook to other parts of Southeast Asia,” she added. Xendit is already present in the Philippines.
Xendit lets businesses handle payments and disburse payroll on its platform, which links them with transaction methods including digital wallets, credit cards and online installments. It counts major tech companies like Traveloka among its clients. The company raised $150 million in a funding round led by Tiger Global Management in September, bringing its valuation to $1 billion.
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