Payment Startup Airwallex Raises $13 million in Series A Funding Round
- Airwallex platform enables businesses to issue and pay invoices in their preferred currency.
Cross-border Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term startup Airwallex has secured $13 million in a Series A funding round led by Tencent Holdings, Sequoia Capital China, and Mastercard. The company has raised from backers a total of $16 million in venture funding to date.
The London Summit 2017 is coming, get involved!
Melbourbe-based fintech firm has amassed an impressive roster of investors which in addition to existing investors included China’s Gravity VC which led a $3 million pre-launch round in early 2016.
Airwallex plans to use the funds to develop its proprietary technology stack and roll out a suite of APIs for e-commerce platforms and a multi-currency digital wallet. The new monies will be also used to fuel the company’s global expansion and strengthen its Melbourne and Chinese development teams as more platforms and apps flood the ever growing remittances market.
Entrepreneurs have taken note of this market opportunity in this segment and are establishing more platforms and startups that changes the way money flows through today’s digital economy. Alibaba-backed Alizila estimates cross-border e-commerce will be worth $1 trillion by 2020, up from $230 billion in 2014.
Airwallex offers integrated solutions for business and personal cross-border transactions. It facilitates international money transfers through a combination of payment collection, foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, remittance and security settlement.
Launched to market in 2015, Airwallex platform 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.
Cross-border Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term startup Airwallex has secured $13 million in a Series A funding round led by Tencent Holdings, Sequoia Capital China, and Mastercard. The company has raised from backers a total of $16 million in venture funding to date.
The London Summit 2017 is coming, get involved!
Melbourbe-based fintech firm has amassed an impressive roster of investors which in addition to existing investors included China’s Gravity VC which led a $3 million pre-launch round in early 2016.
Airwallex plans to use the funds to develop its proprietary technology stack and roll out a suite of APIs for e-commerce platforms and a multi-currency digital wallet. The new monies will be also used to fuel the company’s global expansion and strengthen its Melbourne and Chinese development teams as more platforms and apps flood the ever growing remittances market.
Entrepreneurs have taken note of this market opportunity in this segment and are establishing more platforms and startups that changes the way money flows through today’s digital economy. Alibaba-backed Alizila estimates cross-border e-commerce will be worth $1 trillion by 2020, up from $230 billion in 2014.
Airwallex offers integrated solutions for business and personal cross-border transactions. It facilitates international money transfers through a combination of payment collection, foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, remittance and security settlement.
Launched to market in 2015, Airwallex platform 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.