Plum Guide streamlines its funds management with Airwallex

Find out how luxury home rental platform, Plum Guide, streamlined its funds management across multiple currencies, upgraded its financial infrastructure and made cost savings.

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30,000 homes in 30 countries

means hosts need fast local payouts

Scaling to 60 new destinations

needs efficient FX infrastructure

Greater payments admin

needs streamlining for financial reporting

Plum Guide is redefining holiday rentals, curating extraordinary homes worldwide to give customers a superior holiday experience.

Industry

Travel

Location

Global

Company size

100+ employees

AIRWALLEX PRODUCTS USED

Global Accounts
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Founded in the UK in 2016, Plum Guide curates extraordinary homes in over 500 locations and offering guests superior short-term rentals in 30 countries, with 60 new destinations launching soon. 

Plum Guide’s expert vetting that combines human curation with deep learning ensures only the best homes make it onto its platform. Think of the Plum seal of approval as the Michelin Guide of holiday rentals. 

Plum Guide offers incomparable transparency, highlighting crucial details guests need to know before booking. This is how Plum Guide delivers customers a guaranteed exceptional stay every time. 

With a dedicated 24/7 care team and an 'excellent' Trustpilot score, Plum Guide holds a unique position in the market.

The Challenge

The travel industry by nature is borderless, requiring companies to transact in many different currencies.  

With its global customer base, Plum Guide receives funds from guests in multiple local currencies. In addition, it needs to service host payouts quickly in their local currency. This requires Plum Guide to make frequent FX transactions. 

Before using Airwallex, Plum Guide was meeting this need using multiple traditional banks and brokers to manage funds and make FX transactions. But the rates they were getting weren’t competitive, and operating this way became unmanageable.   

Plum Guide needed a cost-efficient, end-to-end solution that could support its treasury across multiple geographies and currencies and be simple to administer, as Jonny Tamir, CFO at Plum Guide explains; “We needed a tech-driven solution that would enable us to make fast and cost-effective FX transactions, so we could facilitate fast payouts to hosts in local currencies.” 

This challenge became even more pressing in light of the travel company’s plans to expand into 60 new destinations in 2024. When scaling into new markets, it’s vital to have the right financial infrastructure in place, as Plum Guide’s existing treasury wasn’t scalable, so Jonny and his team searched for a better solution.

Jonny Tamir

CFO, Plum Guide

“We were using multiple traditional banks and brokers to manage our money overseas. But this was becoming really hard to administer and we were paying a lot in FX fees.”

The Solution

Airwallex’s market-leading financial platform helps businesses scale globally faster, unlocking new opportunities and facilitating growth without limits. 

Plum Guide is leveraging Airwallex’s global treasury and cost-effective international transfers to operate more efficiently and scale its operations faster. 

  • Plum Guide can now quickly and easily service global collections and payouts through Airwallex’s powerful global treasury infrastructure. This has streamlined Plum Guide’s financial operations, saving them considerable time and allowing them to focus on scaling their business.  

  • Airwallex’s low, transparent FX rates have saved the travel company significant conversion and transaction fees, helping to strengthen the business’ financial position. 

  • Using Airwallex for global treasury instead of multiple FX brokerages has streamlined Plum Guide’s financial reporting.    

Looking ahead to the future, Plum Guide will continue to scale its operations. Now the leader in handpicked global rentals, Plum Guide is excited to be preparing to launch in 60 new destinations by the end of 2024.

Jonny Tamir

CFO, Plum Guide

“Airwallex has elevated our financial operations to new heights, empowering us to seamlessly complete FX transactions and deliver exceptional services to our valued guests and hosts.”

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This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) it is important for you to read the Product Disclosure Statement (PDS) for the Direct Services, which is available here. If you are a customer of Airwallex Capital Pty Ltd (Authorised Rep No. 001304702), it is important for you to read the Product Disclosure Statement (PDS) for Airwallex Yield, which will be made available to you at the time of onboarding. Airwallex Yield is brought to you by Airwallex Capital Pty Ltd (Authorised Rep No. 001304702). All investments carry risk. *Target returns are after fees and accurate and updated as at 24 January, 2024 (AEDT).

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