Airwallex CEO Confidently Forges Ahead, Unfazed by Challenges of Expansion

Must Read

The CEO of Airwallex, a successful Australian fintech company, has explained that central banks have no problem with their corporate governance. 

Airwallex—a flourishing start-up, which has already established its multi-currency payments network in the UK, Europe and the US earlier this year with plans to expand operations into Japan, Malaysia and Singapore within the next quarter, is now utilizing its Sydney hub to recruit highly skilled technology professionals.

This company has seen exponential growth in just a few short years and raised over $US500 million ($665 million). In 2021, their Series D funding round valued the business at an incredible $US2.6 billion – a testament to its success.

This year, the start-up initially encountered trouble after National Australia Bank and Citi withdrew their support due to worries about its anti-money laundering compliance. Additionally, employee net promoter scores leaked in January uncovered that workers would only recommend it as something other than an employer choice. Fortunately for them, those ratings have since improved significantly.

In response to the two big banks’ choice of not collaborating with Airwallex, Mr Zhang defended the company’s high-quality standards. He argued that this issue is more indicative of many fintech start-ups’ experiences dealing with major financial institutions rather than an administrative dilemma.

“Our first-rate fintech solutions have led to the development of compliance policies that are both dependable and secure,” Airwallex boss Jack Zhang said.

“It’s no secret that many banks in Australia are reluctant to collaborate with fintech businesses – just inquire of a hundred such companies, and they would likely confirm this.” Mr Zhang added.

Airwallex has recently established strategic partnerships with over 40 banking institutions to support its mission. They also have engineering headquarters in diverse and expansive locations, such as Shanghai, the Netherlands, San Francisco and Melbourne. Additionally, they want to significantly expand their Australian engineering team size from 50 employees to 100.

- Advertisement -spot_img
Latest News
- Advertisement -spot_img

More Articles Like This

- Advertisement -spot_img