Airwallex Commits $1.1B to Middle East and EMEA Expansion, Targeting Cross-Border Payments Growth
A global payments and financial platform, Airwallex has announced its next step in investing more than $1.1 billion to expand its presence and services across the Middle East, Africa (EMEA) region and United Kingdom. This investment is channeled to fix rising demand for cross-border financial infrastructure and positions Airwallex as a competitor in the B2B space.
This investment is expected to run through the course of five years as digital payments and cross-border trade continue to rise globally as well as reflecting a larger move of fintech companies penetrating into Europe and emerging countries.
Airwallex is set to establish itself as a top infrastructure supplier for companies that aim at functioning smoothly in the global digital economy by expanding throughout the EMEA area.
Since there was a record growing acceptance amidst international enterprises, especially in sectors like software, travel and e-commerce, Airwallex has achieved 116% year-over-year revenue growth and a 226% increase in total volume of transactions across the area in the fourth quarter. Hence the expansion correlates with the company’s goal in reaching the EMEA region.
The company is to establish itself as a major fintech participant in the global financial infrastructure, interacting directly with established banking networks and encouraging digital-first companies throughout the region by growing its ecosystem, providing employment, and offering new products.
About Airwallex
Airwallex is a multinational financial technology company that offers financial infrastructure, multi-currency accounts, and cross-border payment solutions to companies. Jack Zhang, Lucy Liu, Max Li, and Xijing Dai established the business in Melbourne, Australia, in 2015.
They offer digital payment solutions that enable businesses to handle international transactions, foreign exchange, and global financial operations through a single integrated platform, Airwallex currently provides services to over 200,000 firms globally.