How to scale a fintech startup in an emerging market w/ Tessa Wijaya COO @ Xendit

Digital Transformation & Leadership with Danny Levy

To launch a new season of Digital Transformation & Leadership we've got a special episode recorded live from the MoneyPot podcast studio at Money20/20 Asia in Bangkok.

Danny talks to Tessa Wijaya the COO at Indonesian fintech Xendit, the expanding payments gateway.

On top of being a driving force for the company’s growth, Tessa is also a passionate advocate for more women in tech; she initiated Xendit’s Women in Tech Indonesia program, where entrepreneurs and tech professionals share experiences in workshops and digital forums.

Unlisted Xendit doesn’t disclose its profits, but it has clearly gained the confidence of many venture capital firms. In September 2021, Xendit became a unicorn after it raised $150 million in series C funding, bumping up its valuation to $1 billion.

Xendit helps businesses get what’s due to them from payment channels such as credit cards, online wallets, QR codes and other tools for electronic purchases. Xendit’s website says that in fewer than five minutes, it can set up an account for a business to start receiving digital payments. In Indonesia, the company competes with Doku and Goto’s Midtrans.

From fewer than 10 employees at the start, the company now has more than 900. Xendit, which initially focused on Indonesia, has expanded to the Philippines and is eyeing other parts of Southeast Asia.

In the episode Danny and Tessa discuss:

• How Xendit has navigated local payment preferences and integrated them with existing payment infrastructures to facilitate seamless transactions.

• Many individuals in emerging markets may be skeptical of new financial technologies or lack the necessary knowledge to use them effectively. How Xendit has gone about overcoming these challenges.

• The fintech industry is highly competitive, with both local and international players vying for market share. Fintech startups in emerging markets face competition from traditional financial institutions, established tech companies, and other startups. How has Xendit has overcome this to stand out in the market.

Then in part 2 of the episode Tessa talks through her entrepreneurial journey sharing what she is most proud of, the biggest risk she's taken in her career, how you go about finding strong mentors, how to find the right work/life balance, and her big career lesson.

To contact Tessa get in touch via LinkedIn here - https://www.linkedin.com/in/tessawij/

To check out Xendit go to - https://www.xendit.co/en/