Financial technology (fintech) company Xendit throws its support to startups in the Philippines by launching the “Level Up” accelerator program that will equip them with tools and skills to scale.
Tracing its roots in Indonesia, Xendit provides a secure and easy-to-integrate payment system for businesses in Southeast Asia. With a diverse range of products, Xendit’s system can accept payments from bank accounts, credit and debit cards, e-Wallets, retail outlets, and online installments.
The company will choose about 50-100 startups that will receive P3.5 million (around $72,500) worth of Xendit services. The selected startups will be equipped with the fintech firm’s easy-to-integrate payment system and offer its clients a seamless payment experience. The selected startups will also join a masterclass to learn how to maximize their payment gateway experience. The company will provide comprehensive payment options, quick set-up, and an instant payment process so they can be onboarded immediately.
“Xendit is also a product of a startup accelerator in Silicon Valley, which helped us build a fast, secure, and seamless payment platform for Southeast Asia,” said Yang Yang Zhang, managing director, Xendit Philippines. “Through our time with Y Combinator, we recognized the importance of mentorship in a startup’s growth. We hope to offer the same kind of support for local entrepreneurs and SMEs.”
How to join
To join Level Up, startups are required to submit a three-minute YouTube video and use the hashtag #LevelUpPH. Send the link along with the filled-out application form. The deadline is on June 30, 2021. Entrepreneurs who wish to participate in the Business Pitch Challenge can create a video pitch explaining their current product or service.
“We are excited to meet promising startups in the Philippines and see how we can work together so they can reach their idea’s economic potential,” Yang Yang said. “We are confident that this program can nurture the businesses of tomorrow and in turn, continue building the country’s digital payments infrastructure.”