Money20/20 Exclusive Video: Airwallex Eyes Global Expansion

At Money20/20 Europe this year, Fintech Magazine spoke to Pranav Sood, Executive General Manager for EMEA at Airwallex, who highlighted the fintech's aim for expansion across Europe, the Middle East and the Americas.

“Airwallex is truly becoming a global company,” he says, noting the impressive growth already witnessed across Asia, EMEA and the Americas.

This expansion is not just about geographical reach but also about deepening the company's impact across various sectors. 

Airwallex operates in 20 offices spanning 14 countries, and its growth has been particularly strong in EMEA, North America, and the broader Americas, including Canada and Mexico.

Airwallex: Meeting increased demand from target segments 

Sood emphasises that demand across target segments such as e-commerce, software, travel and retail is continuing to grow for Airwallex, expressing optimism about the continued momentum into the coming year.

Indeed, Airwallex has significantly bolstered its infrastructure in the last year alone,  launching operations in Mexico, enhancing online payments in the US and introducing borderless cards in Canada. 

The company has also upgraded its software offerings, adding features like bill payments and reimbursements to complement its global issuing product. "We've expanded our infrastructure quite significantly," Sood states, hinting at more innovations to come.

Themes underpinning growth strategy

Airwallex's partnership with McLaren exemplifies its strategic initiatives. The collaboration aligns with Airwallex's focus on precision, engineering, and speed. "We're really excited to partner with McLaren," Sood says.

Growth in numbers

The company's expansion strategy is underscored by its recent growth metrics. Airwallex has reported a 152% increase in revenue year-on-year across EMEA, with transaction volumes up by 125% despite challenging macroeconomic conditions. 

In the UK alone, revenue growth reached 157%, driven by new customer acquisitions and partnerships with firms like Moss and Plum Guide. Sood attributes this success to Airwallex's strong product-market fit and innovative offerings. 

"Against a tough macro environment, our consistent growth in EMEA is a testament to our strong product market fit and innovative product stack," he says.

As Airwallex continues to scale, its EMEA team has expanded to over 150 employees, with further hires planned across Europe and the Middle East. 

The company is also eyeing key growth markets such as France and the Netherlands. "Having a best-in-class team is essential to continue this success," Sood concludes.

Airwallex recently expanded its direct debit offering in partnership with GoCardless. 

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