Airwallex furthers global expansion with launch into North America

Jack Zhang, CEO of Airwallex and Founder of Capital 49

Airwallex, a global fintech platform, has announced its launch in the U.S.A representing Airwallex’s expansion into North America as Airwallex continues its global growth.

U.S.-based businesses can now enjoy a full suite of products to support their cross-border payment needs in a fast, transparent and secure way. 

Airwallex to harness the North American market

Airwallex’s entry into the U.S. supports its global growth strategy aimed at achieving its vision to become the global financial infrastructure for businesses to operate anywhere, anytime.

The company offers a business account which include cards, international collection and transfer, and other value-add solutions for small and medium-sized businesses, and an API for larger enterprise businesses that require embedded payments and financial services.

Founded in Melbourne in 2015, Airwallex is one of the fastest growing financial technology companies today, operating across 12 offices with a global team of over 800 employees.  

 “The idea behind Airwallex came nearly six years ago,” said Jack Zhang, Co-founder and CEO of Airwallex. “My co-founder and I loved coffee and started a small cafe in Melbourne.”

“As small business owners, we quickly saw the pain points with global payments and the impact of high FX fees and banking costs when sourcing for supplies.”

“We wanted to build out a better financial and payment solution for businesses operating across borders, and ensure they are empowered to grow.”

“Fast forward, Airwallex’s tech platform provides businesses of all sizes with easy access to a robust global infrastructure, enabling them to grow their offerings and global operations.”

“We power some of the leading tech-driven organisations around the world, and are excited to soon offer the same services to businesses in the U.S. As we grow, we will continue to scale our products and offerings to better serve the needs of businesses operating globally.” 

Airwallex aims to continue global expansion

Airwallex set up a presence in San Francisco in 2019, and has grown to a team of more than 30 across product and engineering, legal, risk and compliance, partnerships and sales.

Airwallex plans to continue to expand its U.S. team over the coming months, as it looks to further strengthen its foothold in the market. 

Airwallex’s market entry into the U.S. is supported by a partnership with Evolve Bank & Trust, a technology-focused financial services organisation and Banking-as-a-Service provider.

Airwallex has been issued money transmitter licenses in various states and is permitted to provide money services business in many states across the U.S.A, including those that have traditionally been difficult to secure licenses, such as California, Texas and Florida. 

With several local bank partnerships and licenses, Airwallex will introduce its suite of products and services to businesses in the U.S.A, including multi-currency cards and an online payment solution that allows businesses to collect payments from customers globally.

To support Airwallex’s global growth, San Francisco will serve as one of Airwallex’s six global engineering hubs alongside Melbourne, Sydney, Shanghai, Singapore and Amsterdam.

These hubs aim to further drive digital innovations and are focused on the research and development of new products and enhancement of Airwallex’s global infrastructure. 

“This is an exciting moment for us as we look at ways to further support U.S. businesses that are looking to grow, both in the U.S. and internationally,” adds Zhang.

“The U.S. is a major hub for technology innovation and is at the forefront of bringing traditional banking financial services into the new age.”

“With our base in San Francisco, we are excited to be able to take part in that change and provide businesses in the U.S. with an infrastructure that can seamlessly handle their international payments and financial services needs.”