Started in 2015 by four Chinese founders in Melbourne, Airwallax primarily provides platform-based enterprises with integrated cross-border payment solutions to meet the needs of B2B and B2C markets. It’s an area in which the RBA — and fintech competitors — have been critical of the major lenders for a lack of urgency in updating their infrastructure. With the ability to make payments to merchants globally where Visa is accepted, the new card will provide greater efficiencies and improved financial oversight for business operators. In the last few years, we have cemented a growing reputation as one of the world’s leading cross-border payments providers. Speaking with Stockhead, Airwallex CEO Jack Zhang said Dr Lowe was keen to learn from a company who in one sense had already been there, done that. Australian payments firm Airwallex has extended an earlier $250m funding round, with Scott Farquhar's Skip Capital getting on board as COVID-19 sees its growth accelerate. So when you actually top up a digital currency wallet, you have to convert from other currencies, and when you withdraw it’s vice versa.”, “That top up process will still use traditional payments infrastructure — you can’t avoid that. Before all that though, Zhang explained that Airwallex built its initial competitive advantage by establishing a foothold in the Asia-Pacific. Canva came in at no. Airwallex claimed that Alibaba Entrepreneurs Fund will accelerate the company’s expansion of products, service scale and ecosystem, especially business growth in the Greater China region. Advent cements Latin American private equity dominance with new $2bn fund targeting region, Highland Europe seeking up to €600m for fourth fundraise in eight years, Industrial decarbonisation PE specialist Ara Partners brings in Sahoo as operating partner. Payments & FX Send fast payments across the globe, without excessive fees. “He also wanted to understand what sort of financial infrastructure we have built, and also how we’re helping Australian businesses expand internationally.”. This site uses cookies to ensure the best experience. Speaking with Stockhead, Airwallex CEO Jack Zhang said Dr Lowe was keen to learn from a company who in one sense had already been there, done that. The company established its business model around more efficient cross-border payments, including a simplified foreign exchange service and algorithms which automate the path of least resistance for cross-border money flows, thus helping to minimise transaction fees. The main difference is that currency will probably be more liquid.”. Airwallex claimed that Alibaba Entrepreneurs Fund will accelerate the company's expansion of products, service scale and ecosystem, especially business growth in the Greater China region. “It’s definitely impacted a lot of payment companies because we need a contingency plan,” he said. Reproduction of news articles, photos, videos or any other content in whole or in part in any form Fintech unicorn Lufax, backed by China’s biggest insurer, Ping An, said to be secretly applying for US IPO; This article Fintech unicorn Airwallex raises US$200 million capital in US expansion plan to compete with Stripe first appeared on South China Morning Post. Global coverage Make payments into 130+ countries, in 23 currencies. Airwallex specialises in international payments for business, building a global digital payment network that connects businesses across the globe. Airwallex, a Hong Kong-based cross-border payment solution provider, announced that it has closed a series D+ fundraising round from Alibaba Entrepreneurs Fund. Our financial infrastructure provides a modern technology stack for businesses of all sizes to operate internationally, without the challenges of the current global financial system. "Faced with the current coexistence of uncertainty and crisis, traditional enterprises seek online development, and domestic e-commerce companies aim at global opportunities to develop cross-border e-commerce.
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