Mar 25, 2021

Cross-border payments fintech Airwallex valued at $2.6bn

Airwallex
Digitalpayments
Fintech
cross-borderpayments
William Girling
2 min
Cross-border payments fintech Airwallex valued at $2.6bn
Continuing a period of “hypergrowth” that started in 2020, Australian cross-border payments pioneer Airwallex has reached a value of US$2.6bn...

The news came following the addition of $100m to its Series D funding round, which has now reached $300m. This means that Airwallex has raised a total of $500m in capital since it was founded in 2015.

US-based global investment firm Greenoaks - a long-standing backer of digital innovators like Deliveroo, Stripe and Checkout.com - led the round, with additional support from Grok Ventures, Skip Capital and ANZi Ventures.

That Airwallex reached unicorn status in 2019 and has subsequently almost tripled its value in two years emphasises the achievement.

A digital world: Payments without borders

With the growing popularity of cryptocurrencies in the APAC region, most recently in the Philippines, and indeed the rest of the world, it seems clear that digital payments are becoming the dominant method of transaction.

According to Jack Zhang, Co-Founder and CEO of Airwallex, “the world will only become more digital,” and his company is poised to capitalise on that momentum.

“This year, we are focused on our global expansion. We continue to extend our international footprint, and are bolstering our capabilities through partnerships and new product launches. Strengthening our investor base with the addition of Greenoaks will also help us accelerate that progress. We look forward to their support as we forge ahead on our journey to become a global financial cloud.”

Airwallex’s ethos has always been to create a world where national borders don’t complicate payments, and this latest funding round is being viewed by its executive leadership as an affirmation of that sentiment. Moreover, Jeremy Kwong-Law, CEO and CIO at Grok Ventures, sees the company as a force for modernisation and simplification:

“It is so impressive to see Airwallex’s relentless pursuit of rewiring clunky financial infrastructure and turning that into a simple and delightful product experience for their customers. We are excited about the huge potential this team can deliver in the years ahead."

Lucy Yueting Liu is fifth in our Top 100

Featuring at number five on FinTech Magazine’sTop 100 women in fintech’ list, Lucy Yueting Liu, Co-Founder and President of Airwallex, is a true sector leader.

Prior to forming Airwallex, Liu worked at Barclays and CICC. Known for possessing strong organisational skills and a competitive edge, which have seen her broker the trust of high-profile investors and customers alike, her value to one of APAC’s most influential fintechs is clear.

“With the market evolving, there are more payment players,” commented Liu. “We like to think we’re more tech than fin. It just happens we’re solving financial services problems with technology.”

Image source: Airwallex

Share article

Jun 17, 2021

Tink partners with Novalnet AG for open banking payments

novelnet
Tink
Fintech
Digitalpayments
2 min
Novalnet AG will collaborate with Tink for the fintech’s payment initiation services

The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.

Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide. 

According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform. 

The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly. 

Novalnet partnership with Tink

By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe. 

The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021. 

Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties. 

“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants." 

Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”

He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”

Image credit: Novalnet AG

Share article