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.
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
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 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.
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.”
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.
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.”
See how our customers are finding Airwallex
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"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!"