Why Mighty Jaxx needs tech-first financial operations to power its global growth

Introducing Mighty Jaxx

Meet Mighty Jaxx – the brand bringing art, tech, and collectibles together. This Singapore-based design studio has been producing original collectibles since 2012 and partners with brands like Disney, Hasbro, and Netflix to create iconic toys across every fandom. 

Mighty Jaxx ships millions of collectibles to over 80 countries annually, but it's more than just a pop toy manufacturer. It's transforming the fan experience with digital and phygital (physical plus digital) collectibles, in-person events, and the Mighty Metaverse. With a bold vision to build an end-to-end supply chain for artists and brands, Mighty Jaxx is supercharging the future of pop culture.

Founder and CEO Jackson Aw saw opportunities beyond Singapore and began selling internationally from day one. Despite the global appeal of its collectibles, Mighty Jaxx had to be strategic about which markets to enter.

Once the initial markets proved successful, the team pushed for faster growth. “We decided to expand aggressively to double our revenue in a year,” says Mighty Jaxx CFO Dennis Tan. We quickly found out that we had to build our teams and payment systems from scratch, and our financial infrastructure couldn’t keep pace with our growth.” 

The challenge

Fragmented financial operations  

As Mighty Jaxx scaled globally, managing finances across multiple markets quickly became a challenge. Each entity had its own local bank account, and handling multiple currencies added layers of complexity. Paying suppliers and staff overseas meant navigating high SWIFT fees, poor FX rates, and rising costs at every turn. 

Obtaining corporate cards through local banks was also difficult, especially as the team grew rapidly across multiple countries. Employees often paid for travel out-of-pocket and waited days to be reimbursed. Currency conversions and international transaction fees made tracking and reconciling those expenses even more complicated.

Victor Tan

CIO at Mighty Jaxx

“Scaling a business internationally isn’t easy. Navigating different regulations, managing payments across different markets, and building local teams worldwide are incredibly challenging. We had too many disconnected systems, and they really slowed us down. It became clear that we needed a way to centralise our financial operations.”

To keep operations running, Mighty Jaxx onboarded separate providers to convert currencies and track expenses. But none of these systems talked to each other.

“When financial operations are fragmented, it’s hard to tell how the business is performing as a whole,” shares Dennis. “We quickly put systems in place to keep up with the pace of growth, but we ended up with solutions that didn’t fit well with each other.”

With data and processes spread across platforms, the finance team found themselves piecing together insights manually – slowing down decision-making and increasing the risk of errors.

Lack of access to local payment methods

Surging demand from US collectors fuelled Mighty Jaxx’s rapid B2C expansion. The team moved fast – launching an eCommerce platform, setting up local distribution centres, and establishing a presence on Amazon.

To convert new customers, they needed to offer trusted, market-specific payment methods. In the US, that meant adding buy now, pay later (BNPL) options, which are increasingly popular for high-value purchases.

The challenge lay in finding a payment solution that supported local payment methods in key markets, while seamlessly integrating with their eCommerce platform and banking system.

With the increased need to consolidate financial systems and offer local payment methods to boost conversions everywhere, Mighty Jaxx knew it was time to move to a unified financial solution built for global scale.

The solution

One platform to power global financial operations 

Global expansion takes more than ambition – it demands the right financial infrastructure. With Airwallex, Mighty Jaxx no longer has to juggle multiple providers. From international transfers to multi-currency corporate cards, everything runs through one unified platform. Mighty Jaxx is able to simplify its financial workflows and cut international transfer fees, helping it grow faster without all the operational headaches.

“As a global business, we work with vendors and freelancers across multiple markets, from artists and designers to manufacturers and logistics partners,” Dennis shares. “Making sure everyone’s paid on time and in full, without excessive banking markups, really helps raise our bottom line.” 

With Airwallex, Mighty Jaxx benefits from market-leading FX rates and avoids SWIFT fees. Every international payment saves them around S$30, and 90% of payments arrive the same day. The result? Stronger relationships and smoother operations across the board.

Airwallex Corporate Cards also removed the need for employees to pay upfront for business expenses. Cards are issued in minutes, can be used worldwide wherever Visa is accepted, and come with zero foreign transaction fees.

Dennis Tan

CFO at Mighty Jaxx

“I was worried that switching providers would be a hassle, but Airwallex was surprisingly easy to adopt. With one platform, we can now accept global payments, hold multiple currencies, and pay suppliers. No more switching between different systems – everything is in one place.”

Access to local payment methods that support global growth

Encouraged by early success, Mighty Jaxx is now exploring Airwallex Checkout – a low-code payment solution that lets them offer local payment methods and displays prices in local currencies, all without changing the look and feel of their website. These customised payment solutions also allow them to receive funds in the same currency customers pay in, eliminating unnecessary conversion fees. As Mighty Jaxx’s B2C business grows globally, the team has set its sights on offering BNPL payment methods like Klarna and AfterPay in the US, and providing customers worldwide with more payment methods and currencies. 

The result 

With Airwallex, Mighty Jaxx has moved from a fragmented financial setup to an all-in-one platform that can receive, hold, and make payments in multiple currencies – simplifying its financial operations to keep pace with its growth. 

Mighty Jaxx is accelerating its global expansion across Europe, Canada, and Latin America in a smarter, more sustainable way through:

• Lower-cost transfers: saving S$30 per transfer by bypassing SWIFT and using Airwallex’s local rails

• Faster payments: 90% of transfers now settle within hours, not days

• Instant card issuance: Corporate cards are issued instantly, with zero international transaction fees

• Unified view of global performance and spend: simplifying financial operations across markets via Airwallex's Multi-Entity Management

Dennis has a clear message for entrepreneurs looking to make the bold leap into global markets: don’t be afraid to ask for help.

“Seek advice from people with experience in that market and who can help you anticipate the challenges,” he says. "Business partners like Airwallex make the transition smoother with their unified and scalable platform. As your business grows, Airwallex grows with you.”

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.