Indonesia’s Xendit has officially entered the Thai market, while Malaysia’s myTukar has changed its name to Carro.
Tessa Wijaya named CEO of Xendit Thailand
Indonesian unicorn Xendit has officially entered Thailand, according to a statement on Tuesday, to offer digital payment solutions and embedded finance as part of its efforts to tap the country’s growing digital economy.
The firm also named its co-founder Tessa Wijaya as the chief executive officer of Xendit Thailand and Korn Chatikavanij, Thailand’s former finance minister, as an advisor and chairman of the company.
“Expanding into new markets isn’t just about reaching new customers; we believe in empowering businesses with the tools they need to thrive. By expanding into Thailand, we are taking another step towards making that vision a reality for even more people,” Moses Lo, Xendit Group co-founder and CEO, said.
Xendit will offer its services in Thailand to a diverse customer base, from small and medium enterprises (SMEs) to large corporations.
Launched in 2015, Xendit is now available in Indonesia, the Philippines, and Malaysia.
myTukar’s rebranding to take several months
myTukar, Malaysia’s car bidding platform, has rebranded itself to mirror the name of its parent company Carro.
The rebranding process will take several months, the company said in a statement. The name change, however, will not affect customer purchases, including contracts, prices, warranties or guarantees.
The firm started its rebranding efforts in June 2022 by changing its turquoise and grey colour scheme corporate look to mimic Carro’s signature orange.
Nothing will change on staffing as well, the company said, so customers can contact their usual service representatives. Derrick Eng, myTukar’s CEO, will continue to lead Carro Malaysia.
Carro Co-Founder and Group CEO Aaron Tan said myTukar’s renaming exercise marks a huge milestone in the firm’s brand integration.
“We’re profitable as a group, we’re IPO-ready and in a position to list the company as soon as it becomes realistically possible. We’re looking forward to exciting new plans ahead not just for Malaysia, but for the rest of our markets,” Tan said.