Airwallex partners with Stake to fuel its global growth and ASX introduction
MELBOURNE, 28 SEPTEMBER, 2021 — Airwallex, one of the fastest growing global fintech platforms, today announced the company has been chosen by Australian digital brokerage Stake as a global cross-border payments and FX partner.
Airwallex was selected for its advanced tech platform that allows Stake to receive, convert and pay out funds in multiple currencies, enabling it to operate and serve customers in new markets.
Stake and Airwallex will collaborate on delivering efficient and exciting solutions that will provide the seamlessness that Stake’s 360,000-plus customer base have come to expect, especially when it comes to moving money between Wall St and the ASX.
The Airwallex integration will support Stake’s international expansion into New Zealand, Brazil and the UK, as well as the company’s move into the ASX and the beta launch of its modern self-managed super fund establishment product.
“Stake has truly disrupted the brokerage market and has proven itself to be one of the most innovative Australian fintechs. We are thrilled to partner with Stake and support its global ambitions through our financial cloud platform,” said Jack Zhang, CEO and Co-Founder of Airwallex.
Jack Zhang continued, “The partnership with Stake is a natural fit. Stake’s product breaks barriers to opportunities and markets without compromising on customer experience and charging exorbitant fees This is aligned with Airwallex’s purpose – by providing easy access to a global financial infrastructure, we empower businesses to operate anytime, anywhere. We’re looking forward to continuing the partnership to deliver more innovation to customers.”
“It was a no-brainer partnering with Jack and the Airwallex team who share our passion for innovation and technology. It’s been clear already that Airwallex shares our vision for leveraging technology to bring better outcomes to customers and we’re excited to roll out a suite of amazing solutions together, ” said Matt Leibowitz, CEO and Co-Founder of Stake.
“This partnership will be important as we bring more products to our customers and ensure they’re delivered the way they should be; with a great customer experience at their heart,” continued CEO Matt Leibowitz.
The partnership follows Airwallex’s Series E fundraising round led by Lone Pine Capital, increasing the company’s valuation to US$4 billion. The investment will support Airwallex's global expansion and enable the company to accelerate multiple product development initiatives.
Airwallex has reported significant business growth in the last year, recording a year-over-year revenue growth of nearly 150% for the first half of 2021, and processing more than annualised US$20 billion for a global client portfolio that has quadrupled in size, serving innovative global businesses such as Stake, GOAT, and Papaya Global.
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Airwallex is a global fintech platform with a mission to empower businesses of all sizes to grow without borders, and by doing so, contribute to the global economy. With technology at its core, Airwallex has built a financial infrastructure and platform to help businesses manage online payments, treasury and payout globally, without the constraints of the traditional financial system. Airwallex has secured over US$700 million since it was established in 2015, and is backed by world-leading investors. Today, the business operates with a team of almost 1,000 employees across 20 locations globally. For more information, please visit www.airwallex.com.
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