Airwallex is among only three Australian’unicorns,’ increasing $160 million in a round led by ANZ banking and cloud computing software company Salesforce.
Aussie fintech unicorn increases $160 million.
Airwallex will direct the funds to expand its global footprint, together with Europe and the USA, among its following target markets.
In March 2019, Airwallex obtained a $1 billion evaluation — standing it as Australia’s next unicorn alongside graphic design company, Canva. Australia is now home to three unicorns, together with airborne imagery company, Nearmap, recently joining the listing.
Ron Spector, ANZi Ventures managing director, said that the lender is”seem [ing] forward to working further with the group to confirm their vision of constructing a next-generation electronic payments stage for both SMBs and enterprises internationally.”
Airwallex climbed from a cafe owned by the firm’s co-founders at Melbourne’s Docklands. After struggling to find an effective means to cover exporters from Hong Kong and China for coffee cups in 2015, the group teamed up with three friends from Melbourne University to start the startup.
RippleNet expands international network.
Airwallex’s increase comes amid a growing worldwide expansion of RippleNet.
On April 15, Ripple declared a venture with a Malaysian payments company, MoneyMatch. The company now offers cross-border remittance to over 120 nations through RippleNet.
On April 9, Thailand’s oldest financial institution, Siam Commercial Bank, established a partnership with an electronic payments firm, Azimo, to provide near-instant foreign remittances with RippleNet.
Despite considerable excitement concerning Ripple’s partnership with top Mexican remittance stage Intermex, a March earnings call disclosed the company is only going to utilize RippleNet to support new markets.