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If you're excited about the potential of private markets and fintech, we've got a job for you.
Moses Lo is the visionary CEO and Co-Founder of Xendit, a fintech leader transforming payment solutions in Southeast Asia. With deep expertise in finance and information systems management, Moses has been instrumental in propelling Xendit to unicorn status, achieving a valuation of over $1 billion following a $150 million funding round led by Tiger Global Management. Under his transformative leadership, Xendit has expanded its presence across key markets, including Indonesia, the Philippines, Thailand, and Malaysia, cementing its role as a cornerstone of the region's digital financial ecosystem1.
Before founding Xendit, Moses sharpened his expertise at global powerhouses like Amazon and The Boston Consulting Group, gaining invaluable experience in strategy, retail, and business development. His impressive academic credentials include a Bachelor of Commerce from UNSW and an MBA from UC Berkeley’s Haas School of Business, equipping him with the skills and vision to excel as an entrepreneur2.
In September 2024, Helicap proudly partnered with Xendit to advance financial innovation. Through XenCapital, Xendit's lending arm, the partnership secured a landmark $50 million credit facility from Helicap, unlocking opportunities for underbanked businesses across Southeast Asia and driving regional economic growth. Read more here: Helicap Closes Largest Credit Facility Yet with Xendit’s XenCapital
Our story is a story of pivots. It started in 2015 at a Berkeley vs Stanford Bitcoin hackathon with our idea for crypto remittances for domestic workers from SEA who were working abroad. We applied and got accepted into Y Combinator, which was an incredible experience, but we weren't gaining traction with our initial idea.
A pivotal moment, halfway through YC, was a 12-minute conversation with Justin Kan who suggested we try a Venmo-like solution for Indonesia and launch it quickly. We built it in a week, and within six weeks, we had 16,000 users. That got us funding from Accel Partners, and after four months, we had 150,000 users.
Even then, we weren't done pivoting. Our customers kept asking for reliable and fast ways to move money, so we built that for them, launched on Easter weekend in 2016, and that's how Xendit as it is today was born.
Early 2020 was a tough time for everyone. Our business was split between travel and fintech, and both industries were hit hard by the pandemic. Our numbers dropped 80% in just two months, and we faced a real existential crisis.
In those moments, we stuck by Warren Buffett's advice to be "fearful when others are greedy, and greedy when others are fearful." We decided to double down and launch in the Philippines against investors’ advice. Within nine months, we were at an all-time high with a flood of new customers. That experience taught me the importance of trusting your instincts and seizing opportunities when they arise.
There are 3 definitions of culture I like because they’re direct and actionable:
Truly, I'm lucky to have a wonderful wife of 13 years. This role is by no means a 9-to-5, and she’s been incredibly understanding about how much time I dedicate to work. Admittedly, I have better work-life balance now than in the past.
I genuinely love what I do. I believe I'm here on Earth to fulfil a purpose, so I want to passionately execute on that. It doesn't always feel like work when you're driven by a sense of mission.
The most useful advice I can give aspiring entrepreneurs is to find mentors who are 2, 5, and 10 years ahead of you in their careers. I've always tried to maintain these relationships throughout our journey so we can stand on the shoulders of giants and see further ahead.
Mentors 2 years ahead can offer immediate, actionable advice. They recently navigated the challenges you're facing and can usually offer concrete insights on stuff like fundraising, hiring, product development, and market strategy. It's like having a friendly guide who's just a few steps ahead on the trail, helping you avoid pitfalls and navigate the terrain.
Mentors with 10, 20, 30 years of experience bring a wealth of historical context and pattern recognition.They've witnessed multiple economic cycles, industry booms and busts, and technological shifts - we’ve spoken with our investors on what happened in the 1980s, 2000, 2008 recessions and our current climate. Their long-term perspective allows them to identify recurring patterns and offer guidance on what we can do and how we can adapt.
Mentors 5 years ahead strike a balance between relatability and wisdom. They've recently been in your shoes, so they understand the specific challenges you're facing. They remember the struggles of early-stage fundraising and building, have likely made mistakes and learned from them, and can offer insights from some pattern recognition.
People challenges are always the toughest. Knowing when to hire, when to let someone go, and how to manage different cultures within a growing company is a constant learning process.
One big lesson we learned from the COVID boom, a time when we hired more freely, was the importance of strong leadership. I used to think my job was to bring in smart people and get out of their way. But I've realised that even when we hire people smarter and better than us, someone needs to steer the ship and ensure everyone is rowing in the same direction. I’ve recently taken a more "founder-led" approach, and it's been crucial for our growth.
I'm sincerely grateful for the recognition from Forbes and Prestige. I am lucky to have people nominate me, and I'm thankful for their support.
At the same time, I’m not really big on over-emphasising external validation. Xendit's success is and has always been a team effort. I just happen to be the face of the company and am lucky to have started this idea - but it’s the customer service folks who support customers everyday, the account managers and sales people who talk to customers, engineers who build our products, and operations teams who make it all happen.
While I appreciate these accolades, I try not to let them go to my head. If they inspire my colleagues and show them that their hard work is recognized by others, then it’s great. Ultimately, my hope is that our motivation comes from within, from the satisfaction of serving our customers and building something meaningful for SEA and beyond.
I have two boys, ages 3 and 4, and rediscovering the world through their eyes has been incredibly fulfilling and a wonderful way to relax.
Staying healthy has also become a bigger priority now. After a soccer injury a few years back, I've become more aware of my health and fitness.
Outside of work, I'm passionate about supporting different causes, like anti-human trafficking. While I'm not directly involved,I support several organisations working to combat this global issue.
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