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Two Newest Unicorns in Southeast Asia, from Indonesia and Singapore

Two Newest Unicorns in Southeast Asia, from Indonesia and Singapore

Indonesia's Digital payments infrastructure provider Xendit and Singapore's Carousell are two newest unicorns in Southeast Asia.

Xendit has nabbed a $150 million Series C that elevates the company to a short list of Southeast Asia unicorns. Businesses from small kiosks (warungs) to SMBs and large players like Transferwise and Grab use Indonesian-based Xendit's API-based technology to process payments, run marketplaces, disburse payroll, and detect fraud.

The firm, which says it is processing more than 65 million transactions with US$6.5 billion in payment value annually, intends to use use the new funding to scale its business, which mainly operates in Indonesia and the Philippines.

"It’s now clear that businesses need to have a digital presence,” says Moses Lo, co-founder and CEO, Xendit. “Xendit’s digital payments infrastructure enables the region’s new class of entrepreneurs to start and scale their payments faster, and supercharges larger companies with modern, world-class financial services. What AWS has done for Compute, Xendit is doing for payments.”

The new financing comes just six months after the firm raised $64.6 million in a Series B led by Accel.

The latest round was led by Tiger Global Management with participation from existing investor Accel, Amasia, and Justin Kan’s Goat Capital.

Meanwhile, Singapore's online classifieds business Carousell  said it raised $100 million in fresh funds that value the company at more than a billion dollars. It is now valued at $1.1 billion — which makes it Southeast Asia’s latest unicorn, a start-up worth more than a billion dollars.

People are turning more to e-commerce for their shopping needs and that puts companies like Carousell and others in a prime position to tap into Southeast Asia’s $300 billion internet economy.

(various sources)

Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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