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Indonesia's Xendit expands to Malaysia with investment in Payex
Financial technology start-up Xendit has established a foothold in Malaysia as it seeks to build a presence across Southeast Asia.
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Xendit Group director Rifai Taberi (left), cofounder and COO Tessa Wijaya (middle) and director Mikiko Steven (right) pose for a photo on Jan. 12, 2022. (The Jakarta Post/Deni Ghifari)
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ndonesian financial technology company Xendit has established a foothold in Malaysia as it seeks to build a presence across Southeast Asia.
“So that Xendit can take Indonesia to the global stage, we consider it necessary to have a presence in multiple Southeast Asian countries,” Xendit cofounder and chief operating officer Tessa Wijaya said on Thursday.
The unicorn start-up has appointed Jason Siew to helm the Malaysian branch as general manager.
In the past, Siew served as CEO of WeChat Pay Malaysia — a mobile payment and digital wallet service belonging to Chinese tech giant WeChat.
“At Xendit, we prioritize a simple integrated system with an emphasis on speed and quality service. This is what we will be bringing to the Malaysian market,” said Siew, according to a Xendit press statement released on Wednesday.
Read also: Indonesian fintechs look to greener fields abroad for continued growth
The expansion was realized with an undisclosed amount invested in Malaysian company Payex, which, like Xendit, is a payment gateway provider.
