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Xendit
Xendit processes $32.5B annually for 10,000+ businesses across Southeast Asia, with 99.999% uptime — built by Moses Lo and Tessa Wijaya from Indonesia...
Xendit
Xendit launched in 2015, founded by Moses Lo, Juan Gonzalez, Tessa Wijaya, and Bo Chen, alumni of UC Berkeley and Amazon who saw that Southeast Asia's fragmented banking layer made digital payments brittle. The firm started in Indonesia and quickly became the default processor for the country's unicorns. Wealth origin is entrepreneurial; the operating entity remains a privately held venture-backed company. Xendit moves money across cards, virtual accounts, retail outlets, QR codes, and direct debits — a multi-rail stack that covers Indonesia, the Philippines, Malaysia, Thailand, and Vietnam. It doesn't disclose a formal fund structure or external capital base. Instead, it operates as a technology licensor and processor, earning fees per transaction. Named merchants include Traveloka, TransferWise, Ninja Van, and Grab, which integrated Xendit's pay-in and payout APIs to replace manual bank-file uploads. The firm runs a rules engine for fraud scoring and a foreign-exchange layer that settles in local currency. The company processes more than $32.5B in annualized payment volume across 416 million transactions. It maintains a five-nines uptime record and runs engineering hubs in Singapore and Jakarta. In January 2024, Xendit launched its own payment switch in the Philippines, bypassing the national clearing house for real-time transfers. That move followed its 2023 acquisition of a Philippine EMI license, which let it hold client funds directly rather than relying on partner banks. Xendit's structure as a licensed operator in multiple jurisdictions — not a reseller of third-party gateways — distinguishes it from Stripe and Adyen, which rely on local acquirer partnerships in the region. The firm builds and owns the direct integrations into bank cores, e-wallets, and over-the-counter networks in each country. That means it doesn't pay per-transaction royalties to a local licensee, which gives it a margin structure closer to a domestic bank's payments division than to a SaaS fintech.
General information
Firm type
Asset Manager
Year founded
2015
AUM
Undisclosed
Location
Region
Asia
Country
Indonesia
City
Jakarta
Corporate office
Jakarta, Indonesia
Additional offices
Singapore · Manila · Kuala Lumpur · Bangkok · Ho Chi Minh City
Sector focus
Frequently asked questions
Who runs Xendit's product and engineering strategy?
Co-founder and CEO Moses Lo oversees product and technology. Tessa Wijaya, COO, runs commercial operations across Indonesia, while CTO Juan Gonzalez, a former Amazon engineer, leads the payments infrastructure build. The founding team has stayed intact since 2015, with no external CEO hire.
How does Xendit settle funds in countries where it doesn't hold a banking license?
Xendit holds an e-money license from Bank Indonesia and a Philippine EMI license, which let it hold client funds directly in those markets. In Malaysia, Thailand, and Vietnam, it partners with licensed local banks as settlement agents. The firm has publicly stated it intends to pursue direct licensing in every market it serves.
What makes Xendit different from Stripe or Adyen in Southeast Asia?
Xendit builds and owns direct integrations to regional bank cores, e-wallets, and over-the-counter networks — it doesn't resell a global acquirer's API. Stripe and Adyen typically enter Southeast Asia through local bank partnerships, paying per-transaction fees to a licensee. Xendit's model offloads that margin layer, giving it unit economics that resemble a domestic bank's payments division.
Does Xendit operate as a single family office or a venture-backed company?
Xendit is a privately held venture-backed operating company, not a family office. It has raised capital from Accel, Y Combinator, Tiger Global, and others across multiple funding rounds. There is no publicly disclosed family-office structure behind Xendit, and the founding team retains operational control.
What payment methods does Xendit support in Indonesia?
In Indonesia, Xendit covers bank transfers via virtual accounts (BCA, Mandiri, BNI, BRI), credit and debit cards, retail over-the-counter payments through Alfamart and Indo-maret, and e-wallet integrations including OVO, Dana, and LinkAja. It also offers direct-debit mandates for recurring billing.
What does its regional licensing footprint look like?
Xendit holds an e-money license from Bank Indonesia and an EMI license from the Bangko Sentral ng Pilipinas, allowing it to hold client funds directly in those two core markets. For cross-border settlement into Malaysia, Thailand, and Vietnam, it currently operates through licensed banking partners, pending its own license applications.
Who are Xendit's largest merchants by volume?
Named merchants include Traveloka, TransferWise, Ninja Van, and Grab, all of which use Xendit for domestic pay-in and payout workflows. The firm has not disclosed the revenue concentration of its top clients, but its merchant base exceeds 10,000 businesses spanning e-commerce, travel, logistics, and SaaS.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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