#JustGotAcquired! Indonesia’s Xendit just completed their acquisition of Malaysian payment gateway firm, Payex. 

• Extra Scoop. Xendit made their first investment in Payex in early 2023. 

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💯 Xendit’s growth

Xendit is one of the biggest payments infrastructure platforms in SEA, working with brands like Lazada, Grab, Samsung, and more! 

They enable companies to send and accept over 100+ popular online payment methods. 

• They raised a $300M Series D in 2022 and have made strategic investments with Dragonpay, a local payment gateway in the Philippines, and Bank Sahabat Sampoerna, a private bank in Indonesia. 

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Their Malaysian footprint. Xendit said it has onboarded 4.5K Malaysian businesses and processed more than 5B MYR ($1.1B) in payment volume since 2023.

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🏃🏼 What’s next? 

Xendit plans to build its teams, explore new partnerships, and launch educational initiatives in Malaysia. With the deal, Payex will be rebranded as Xendit Malaysia.

Some more detail. Xendit will operate in Malaysia under Payex’s local license. Payex will use the same domain as Xendit.