How FunnyFuzzy optimised global financial operations to supercharge commercial growth
Discover how FunnyFuzzy reduced costs and enhanced the operational efficiency of their multi-currency account management and capital flow to support their growth strategy.
150 countries, 46 currencies
Global payout coverage
2-3 days faster
when receiving payments, compared to previous provider
Global collection coverage
Founded in 2019, FUNNYFUZZY is a DTC pet lifestyle brand headquartered in Singapore. After its debut in European and American markets in 2021, the brand has swiftly secured its place among the top 200 global pet brands with its high-quality products and a fun brand philosophy. With over 3 million followers worldwide, FunnyFuzzy aims to curate a lifestyle for pets and their owners that is more comfortable, healthier, and cosier.
50 - 100 employees
In just two years since FunnyFuzzy launched to European and American markets, they’ve soared to the top 200 of global pet lifestyle brands. This achievement can be attributed to its practical and delightful products, a steadfast devotion to sharing joy through the love of pets, and an emphasis on fast responsiveness to user needs.
However, when the brand expands into local markets with distinct languages, cultures, infrastructure and consumer habits, challenges are inevitable. Chief among these challenges is financial management, which directly impacts revenues and costs.
FunnyFuzzy turned to Airwallex to solve their specific business needs.
Business need #1: Simplify the process of multi-currency account set-up
Currently, FunnyFuzzy mainly targets European and American markets. Their official website supports English, French, and German speaking customers. With a substantial volume of daily global payments, the team needs to open lots of accounts to deal with multi-currency funds.
Solution: Airwallex Global Accounts
Using Airwallex Global Accounts, FunnyFuzzy can now open domestic and foreign currency accounts in minutes on just one platform. There are no account opening fees, monthly maintenance charges, or minimum transaction requirements. They can collect payments from global customers in 170+ currencies and settle like-for-like in 10+ currencies, reducing unnecessary conversion fees.
Business need #2: Accelerate funds flow and reduce transaction costs
With a strong focus on operational efficiency, FunnyFuzzy has reduced its inventory turnover to fewer than 15 days by integrating its supply chain. They have also developed a pioneering ‘small order, fast return’ flexible supply model for pet products. This makes the speed of global transfers and FX cost control critical to FunnyFuzzy's success.
Solution: Airwallex FX & Transfers
With Airwallex, FunnyFuzzy can now send payments to over 150 countries and regions in more than 46 currencies. Payments can be received in as little as one business day. Airwallex’s proprietary FX engine and real-time pricing ensures that FunnyFuzzy gets competitive pricing on currency conversion while avoiding hidden transaction fees with like-for-like settlement accounts in 10 currencies.
CFO at FunnyFuzzy
"When we implemented Airwallex into our operations, we worked hand in hand to solve our specific business needs. The result was a significant reduction of 2-3 days when receiving international payments compared to the traditional banking system, with most transactions settled on the same day. This improved efficiency in capital flow perfectly complements our fast-paced business growth."
Business need #3: Enhance efficiency of corporate expense management
When FunnyFuzzy launched their website, they grappled with frequent payments for various website plugins and a myriad of subscriptions, third-party platform charges, advertising outlays, and more. The array of payment items, often comprising numerous small orders, posed a significant financial bookkeeping challenge.
Solution: Airwallex Borderless Cards
Airwallex Borderless Cards have helped FunnyFuzzy's financial team automate company expense management. They can now create employee and company cards in minutes and stay in control of all purchases from a single dashboard, in real-time.
Their finance team can manage company expenses like software subscriptions and ad spend all in one place. And the global expenses can be paid directly from their multi-currency Wallet balance, reducing unnecessary FX conversion fees.
CFO at FunnyFuzzy
"The Business Account service provided by Airwallex has remarkably enhanced our fund management efficiency, resulting in substantial savings in time and labor costs. As of 2023, the traffic and revenue of our stand-alone website continue to experience robust growth, which can be attributed in part to the financial payment support offered by Airwallex."
See how our customers are finding Airwallex
"Airwallex have been a fantastic partner for Olsam Group as we grow our eCommerce brands to new channels and new markets. Their easy to use interface and integrations have been a joy for our finance team to use as we scale."
"For ME + EM, expanding into international markets such as the US has been our focus - and with Airwallex, we were able to use their local USD Global Account to collect from our Paypal US account, thereby allowing us to save 3% on each transaction. The process of working with Airwallex has been seamless - our suppliers get paid quickly, we have a dedicated Relationship Manager who has been really patient, helpful and quick to respond. I am keen to use their cards to pay for our ad spend in the near future to save further on our USD invoices."
Finance Manager, ME + EM
"We've had such a fantastic experience switching to Airwallex. Previously we were using a traditional bank to make all of our international transactions and they'd constantly lock us out of the account everytime we made a transfer, resulting in hours and hours of lost time on hold. Airwallex is secure, makes it super quick and simple to make and receive international payments."
Managing Director, Perspective Pictures
“We used to pay Stripe between $5,000 and $10,000 a month in conversion fees because most of our customers pay in dollars. Now we funnel that money into our Airwallex US dollar account, we don’t have to pay commission. We’ve saved more than $100,000 so far this year”
Founder and CEO, Brandbassador
"We love Airwallex! It has considerably eased our invoicing and payments to contractors around the world. Sending and receiving money is much faster and cheaper than before."
Co-Founder, Mobile Transaction
“We are so glad that we have found Airwallex! There are no hidden charges, they are quick to respond to any queries and we had the smoothest transaction with amazing support from the team continually.”
Supply Chain Executive, Miss Patisserie
"Our water solutions company, Dropterra (go.dropterra.com) has partnered with Airwallex since inception and it has been the best banking and payment partner a company can think of. International transactions are easy, secure, and fast, the technology is incredible and their client service fantastic! We look forward to growing and deepening our relationship with Airwallex!"