Airwallex Enters the Billion Dollar Unicorn Club

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Started in Melbourne in 2015 by four Chinese founders, Airwallex  provides a service that lets companies manage cross-border revenue and financing in their business.  The company recently announced that it has closed a $100 million Series C round that values its business above $1 billion.

How does the Airwallex process work?

Its customers can, for example, set up overseas bank accounts if they have paying customers located overseas. When they want to move that revenue back to their HQ, they simply do so through the Airwallex system, which uses inter-bank exchanges to trade forex at a mid-market rate. That’s something that can save its clients as much as 90 percent on their foreign exchange rates, and it massively simplifies the challenge of doing business overseas.

Airwallex's goal is to go after small companies and help all businesses to grow and expand globally.

Learn more about Airwallex and their latest valuation.