Airwallex Expands into LatAm with Record Profits & Key Acquisition
Hey FinTech Fanatic!
Airwallex is making a major move into Latin America with a dual-market expansion into Mexico and Brazil, marking a significant step in its global growth strategy. The company has acquired Mexpago in Mexico and secured a payment institution license from the Banco Central do Brasil, enabling it to offer cross-border and local payment solutions in both countries.
This expansion comes alongside record-breaking financial performance, with Airwallex processing $130 billion in transactions, reflecting a 30% year-over-year increase. The company has also reported a 78% growth in gross profit and expanded its customer base to 150,000 businesses worldwide.
Or Liban, CEO of Airwallex Israel and the Middle East, commented on the expansion: "Airwallex is committed to providing Israeli companies with the ability to expand their businesses into Latin American countries, especially Brazil and Mexico. Through our global financial infrastructure and the licenses we have received in these two major economies, we offer a reliable, efficient, and cost-effective platform for executing cross-border and local payments."
More details on this and other FinTech industry updates are below 👇
Cheers,
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