Fintech startup Airwallex has been making waves in the financial world of late. With its services designed around facilitating end-to-end payments and collections across international borders, the company has set an ambitious goal of $150 million in Series E funding. Now, rumors are circulating that it may be pushed a good deal closer to that milestone with the help of a major company with a great deal to gain through enhanced cross-border payments: Visa.
Understandably for a major financial player like Visa, details are scant on a deal that has yet to be settled; a spokesperson for Visa reported that the company is not currently invested in Airwallex, but did not rule out such a move in the future. For their part, Airwallex is making a good deal of noise about expanding their cross-border remittance capacity in new markets like New Zealand.
“By providing local businesses with a single global financial platform, we aim to empower them to scale successfully, which is especially critical in this current economic environment,” said Airwallex ANZ head of growth Sam Kothari, who also indicated that new services for international payments are in high demand with the company’s customer base.