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Profound Commerce scales its businesses with Airwallex

Learn how Profound Commerce manages payments and bill pay for 15 separate businesses with one Airwallex account.

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30%

faster issue resolution with proactive notifications

$1,200

saved each month on foreign currency transactions

7+ hours

saved each week with a unified financial platform

Profound Commerce is a brand holding company that implements leading product development, marketing and operational practices to help its portfolio companies profitably grow.

Industry

eCommerce

Company size

20–50 employees

Location

Texas, United States

Airwallex Products Used

Global Accounts
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In 2018, Profound Commerce was founded with the desire to acquire beloved eCommerce brands and scale them into global household names. Within a few years, the company swiftly acquired 15 distinct businesses. With each of these businesses operating uniquely, Profound needed capable partners to streamline their operations across brands. 

The challenge

With 15 businesses in its portfolio, Profound Commerce has a variety of international vendors and suppliers. This complexity meant that Profound Commerce was grappling with an intricate financial puzzle on a daily basis. Payments easily took up to two hours a day, translating into dollars. On top of that, the resource drain on a five-person finance department was significant. 

The solution

One platform to rule them all

With Airwallex, Profound Commerce was able to unify its entire global payment process on a single platform. It now has a centralized hub to orchestrate payments efficiently and is no longer burdened by the complexities of managing multiple banks and services. 

Airwallex’s impact on Profound Commerce’s operations has been remarkable. Previously spending hours managing disparate accounts, the team now can channel their energy toward strategic growth initiatives. Instead of the two hours a day the team previously had to dedicate to payments, they now spend 30 minutes. 

Foley Schmidt

Chief Financial Officer of Profound Commerce

“When we have bills to pay from 15 different accounts on a single day, being able to do that on a single platform is a huge timesaver.”

A competitive edge

Although there are many players in the payments landscape, Foley Schmidt, CFO of Profound Commerce, feels Airwallex is in a category of its own. Schmidt says, “Others out there have offered discounts, but the temporary savings don’t matter when we feel like we have a partner and a solution that is scalable and easy.”

While some competitors have 15 logins for each of the 15 brands under its portfolio, being able to log in with a single account has been a game-changer for the business. While other competitors may offer temporary discounts, Airwallex provides a modern user experience that feels simple and initiative. 

Foley Schmidt

Chief Financial Officer of Profound Commerce

“The difference between Airwallex UI and other competitors we’ve demoed is night and day. Airwallex is in 2033. The competitors are in 2003.”

A winning approach

Schmidt offered this advice for businesses seeking global expansion: “Scalability matters. Otherwise, you’re rebuilding processes every time you grow. That’s very time-consuming.

And while you do that, you’re not spending time improving the top and bottom lines – which is the scoreboard for any business.”

Profound Commerce’s story underscores the pivotal role innovative technology plays in modern business success. With Airwallex’s seamless integration, Profound Commerce found a scalable solution for its payment processes and unlocked the potential for continuous growth. As eCommerce continues to evolve, businesses like Profound Commerce remind us that scalability isn't just a strategy – it’s the foundation for a thriving future.

What users say about Airwallex

Airwallex Testimony

"Airwallex has been a game changer for all our banking needs. As a fast-growing startup, we need a scalable yet cost-efficient batch payment solution to pay our employees and vendors both inside and outside Hong Kong. Airwallex helps us save money on every bank transfer with their near-zero transaction fee and market-beating FX rates. We also use Airwallex’s multi-currency Visa cards for business travel expenses and SaaS subscriptions to avoid hidden bank fees that would otherwise have been difficult to spot. Would highly recommend other startups to get started with Airwallex!"

Henson Tsai

Founder, SleekFlow

Airwallex Testimony

"Airwallex has been great for our team - it makes payments and transfers so much easier, and has saved us significant amounts of time compared to what we were doing before with HSBC. Airwallex's platform is easy to use and very intuitive. Airwallex virtual card has solved most of our painpoints with sharing corporate card numbers and credit card limits. The best part is being able to save money on all our monthly bank transfers, and we've already saved thousands of dollars by using Airwallex. Airwallex's support has also been highly responsive to troubleshoot any issues in a timely manner."

Sarah Chang

Co-founder & COO, Forkast.News

Airwallex Testimony

“Airwallex provides us with flexibility and cost savings in dealing internationally. We used Airwallex to receive our recent global fundraising round and pay international suppliers and are saving at least 5% per dollar transferred versus the big banks.”

George van Dyck

Finance Manager, Zoomo

Airwallex Testimony

“Airwallex has been a game changer for us. I cannot recommend these guys enough. The forex services are super efficient and super competitive. The customer service is not gold-plated, it's solid gold. One of the best eCommerce services for merchants we have come across since PayPal hit the scene 20 years ago."

Murray Kester

CEO, Cosmetics Now – eCommerce

Airwallex Testimony

“Having all our global SaaS subscriptions in one place has streamlined our finance processes and enabled better tracking and control of expenses. It’s even better knowing that Airwallex isn’t hitting us with any international transaction fees.”

Warren Durling

Chief Operating Officer, Dovetail – Digital Agency

Airwallex Testimony

“Airwallex is our one-stop shop for all our banking needs, in one easy-to-use interface. Without Airwallex, we would not have been able to scale our business as fast as what we’ve been able to achieve.”

Andrew Ford and Rosa-Clare Willis

Co-founders, Crockd – eCommerce

Airwallex Testimony

“Airwallex saves us $40,000 annually in collections costs from our sales on Amazon, which is the majority of our sales in the U.S. market. It also allows us to ‘repurpose’ our international currencies. For example, if we sell in Europe we can pay European suppliers in Euros as well. There’s no need to ‘double convert."

Edward Agaba

Controller, Dalstrong

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