News » Xendit expands domestic operations to PH

Xendit expands domestic operations to PH

Southeast Asian payments infrastructure start-up Xendit further expands its domestic operations in the Philippines after receiving US$150 million Series C funding from investors that include Tiger Global Management, Accel, Amasia, and Goat Capital.

The capital boost elevated the fintech firm into a unicorn, a term referring to start-ups that are valued at over US$1 billion. 

Xendit chief executive officer and managing director Yang Yang Zhang said that this funding will help in the company’s expansion and in improving their products and services.

In a virtual briefing, Zhang stated that the Philippines “presented all the right system(s), the right formula for a place where innovation would be respected, appreciated, and ultimately adopted.”

The CEO added that the Bangko Sentral ng Pilipinas (BSP) helped make their entry into the economy “more compelling” because of its forward-thinking policies that encourage new ideas in the market.                                                                                                                     

Going forward, Zhang emphasized that they aim “to accelerate the growth of the Philippine digital economy by continuing to build first-to-market solutions for enterprises and SMEs (small and medium enterprises) alike while introducing the global VC (venture capital) community to the growing local startup ecosystem.”

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.