Search Result: airwallex

Sep
01

Australia just lost one of its most promising fintech startups, Airwallex, to Hong Kong

Tencent-backed payment operator Airwallex has become the latest fintech company to show interest in joining Hong Kong’s virtual banking push. Airwallex co-founder and chief executive Jacky Zhang said the company will team up with a traditional bank and other local partners as part of the application process, although he declined to reveal their identities. “We believe Hong Kong to be an ideal location to be our headquarters. Hong Kong is an international financial centre where we can serve our global clients worldwide,” Zhang said in an interview with the South China Morning Post in his newly installed office in Quarry Bay. Another reason for the relocation to Hong Kong is […]

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Aug
26

Aussie Fintech Airwallex founders win Entrepreneur of the Year

The founders of an Australian Fintech company, Airwallex were named Entrepreneur of the Year in the EY South Regional Awards. Founders CEO Jack Zhang and COO Lucy Lui both won the Fintech category and will progress to the nationals where the winners will move on to the international round. The event was hosted by EY and the winners were chosen by an independent panel of prominent business leaders and entrepreneurs. This year, the board acknowledged the entrepreneurial spirit, innovation, financial performance, national and global impact, strategic direction, and integrity of Airwallex founders.   To read more, please click on the link below… Source: Aussie Fintech Airwallex Founders Win Entrepreneur of […]

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Airwallex in the money with $108m raise

Melbourne-based fintech start-up Airwallex has closed the second-largest fundraising round in Australian start-up history, taking in $US80 million ($108 million) for a Series B round led by Chinese conglomerate Tencent Holdings, alongside Sequoia Capital China and Melbourne’s Square Peg Capital. The company, which was founded by five Chinese-Australian 30-somethings, has built a system to enable cross-border payments by combining payments and foreign exchange transfers into a single transaction. In 2017 it raised $US19 million ($26 million) from the same investors, but it has now also added two more backers from China’s booming venture capital scene in Hillhouse Capital and Hong Kong-based Horizons Ventures, as well as Indonesia’s Central Capital Ventura. […]

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Sep
20

AI RegTech deal boosts compliance speeds for Airwallex

Melbourne headquartered fintech startup Airwallex today announced a partnership with AI-driven RegTech ComplyAdvantage. The partnership will allow Airwallex to conduct real-time screening and monitoring of transactions for sanctions, anti-money laundering (AML) and counter-terrorism financing (CTF), following a US$13 million Series A funding round from Tencent, Sequoia and Mastercard that has spurred rapid growth into new regions. ComplyAdvantage helps firms make intelligent choices by using Artificial Intelligence, machine learning and big data analytics to manage their compliance and risk obligations, and to prevent the occurrence of financial crime. Regarded as one of the most trusted and innovative compliance solutions in the industry, ComplyAdvantage’s real-time insights will minimise risk on transactions conducted […]

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May
09

Sequoia and Gobi hunting Aussie start-ups following Airwallex round

Big name Chinese venture capital firms are hunting for Australian tech start-ups to invest in, targeting firms in the fintech, agricultural and medical technology sectors. Sequoia Capital partner Steven Ji and Gobi Partners principal Chibo Tang were in Australia last week meeting with local start-ups, venture capital firms and government ministers, with the aim of finding new businesses to back and both agreed that Chinese investors were keen to invest in asset classes outside of property in the country. “We think Australia is a good place for innovation technology and products, particularly in the fintech area,” Mr Ji told The Australian Financial Review. “There’s been a lot of technology innovations […]

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Nov
24

Fintech start-up Airwallex chipping away at the major players

Technology companies do not have to reinvent the industry they address – sometimes they can take a small slice of an enormous industry by being faster and cheaper. The Melbourne start-up, Airwallex, is a case in point. Offering flat-fee pricing for foreign exchange transactions will not instantly challenge the big players but given that forex sees a global daily turnover of about $US1.4 trillion ($1.9 trillion), the year-old business does not need massive market penetration to be highly profitable. “There’s 230 million foreign exchange transactions per month,” says chief executive and co-founder of the company, Jack Zhang. A former IT engineer for the big banks, Zhang says Airwallex uses some […]

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Jul
25

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Jul
05

Forex fintech Airwallex secures US$3m from Alibaba’s VC firm

Fintech startup Airwallex has strengthened its Melbourne and Chinese development teams and accelerated R&D of its international payments platform following a US$3 million pre-Series A investment round led by Shanghai-based VC Gobi Partners.   Gravity VC as well as angel investors Huashan Capital One and Billy Tam (CEO of Easylink Payments, the company behind Chinese payment powerhouse PAYECO) also participated in the fundraising.   Currently in beta trial stage, the Airwallex platform is powered by a peer-to-peer algorithmic engine that enables businesses to issue and pay invoices in their preferred currency at the mid-market foreign exchange rate, avoiding inflated bank margins and minimising currency fluctuation risks.   Airwallex Co-Founder and […]

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