Australian FinTech platform Airwallex on Thursday (Sept. 2) introduced that the corporate has secured a cash providers enterprise (MSB) license from Financial institution Negara Malaysia, which can permit Airwallex to supply built-in worldwide fee options for Malaysian companies of all sizes.
Beginning subsequent yr, Malaysian companies will be capable to ship and obtain worldwide funds in a number of currencies, and Airwallex will proceed its development in southeastern Asia, with providers additionally out there in Singapore. The corporate additionally operates in Australia, Hong Kong, the U.Ok., the U.S. and the EU.
“For a lot of companies, working throughout borders is pricey, time-consuming and cumbersome,” stated Jack Zhang, CEO and co-founder of Airwallex, within the firm announcement. “This ache level is precisely why we began Airwallex. From day one, we set out with a goal to empower companies of all sizes to develop with out borders.”
“Malaysia-based companies have been trying to faucet into Southeast markets to stay aggressive, requiring a trusted fee associate for his or her regional and world enlargement. With this new license, Airwallex goals to duplicate the success it has achieved from servicing main corporations in different areas with companies in Malaysia,” he stated. “Our options will assist each native and world companies in Malaysia give attention to their worldwide operations and enlargement, with out having to navigate the nuances of creating their very own cross-border monetary infrastructure.”
Associated information: Australian FinTech Airwallex Seeks $3.5B Valuation
Airwallex is a valuation of between $3.5 billion and $4 billion, Tech in Asia reported on Friday (Aug. 27), citing a Bloomberg report.
This comes after Airwallex raised $100 million in March in a Collection D spherical, which upped its valuation to $2.6 billion. In July, the corporate raised $200 million for Capital 49, its personal enterprise capital fund, which it has used to spend money on two different FinTechs.
Airwallex achieved unicorn standing two years in the past following its $100 million Collection C fundraising spherical.