As per Paypers, Airwallex is among those 3 Australian-based unicorn firms valued at more than $1b, which is establishing a digital card payment solution in Australia.
Airwallex also has been utilising RippleNet since 2017, when it formed a relationship with the fintech juggernaut, Ripple.
Airwallex’s digital payment solution for Mastercard and Visa
According to U.Today, the firm initially launched its service in Europe and the United Kingdom last year in 2020.
This year, Airwallex will relocate to Hong Kong. Currently, the firm is broadening its reach and launching in Australia, where it will provide the latest digital payment alternative to local clients.
Small and medium-sized enterprises and big corporations will be able to easily collect digital transactions made through Mastercard and Visa cards from customers located all over the world by utilising the firm’s innovative solution to assist businesses in their dealing with customers.
$160m raised in funding by Airwallex
When the global epidemic began to spread across the world in 2020, trying to force nations to enforce shutdowns and stressing the significance of efficient and comfortable digital payments, the financial service platform managed to raise an impressive $160m from a group of investors, such as Salesforce, Chinese’s juggernaut Tencent and ANZ.
This investment round comes a year since the business established additional operations in many major cities, including Dubai, Bangalore and Tokyo.
Airwallex intended to utilise the $160 million raised to boost its development in Europe as well as in the United States of America and to expand into the latest emerging markets. As per the sources, potential future mergers in the payments business are one of the possibilities for spending all that money raised by the financial service platform.
dLocal a client of Ripple raised $617m in its Initial Public Offering
Ever since the beginning of the Covid19 outbreak, the role of online payments has grown dramatically, and numerous payment services, such as those based on RippleNet, had also started to spread and penetrate emerging regions like Africa and Latin America.
dLocal the Ripple client is among those financial services that are operational and thriving in these areas. It just completed an Initial Public Offering in the United States, raising approximately more than $617 million.