Airwallex Poised to Enhance Investment in the Netherlands
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Concise Overview
- Airwallex is set to invest €200 million ($349 million) in the Netherlands over the next five years.
- The fintech aims to grow its Amsterdam team by 60% by 2026.
- Airwallex runs a global payment platform for cross-border transactions.
- The firm boasts a valuation surpassing US$6 billion following its most recent funding round.
- Airwallex is focusing on expansion within Europe and the Americas.
- It secured a license in the Netherlands in May 2021.
- The company faces competition from European players such as Adyen, Mollie, and Bunq.
Airwallex’s Strategic Growth Strategy in Europe
Airwallex, a fintech leader from Australia, plans to make a significant investment of approximately €200 million ($349 million) towards its endeavors in the Netherlands in the upcoming five years. This initiative represents a considerable expansion into the European market, moving from its established footprint in the Asia-Pacific region.
Increasing Staff in Amsterdam
The company, founded in Melbourne, intends to enhance its Amsterdam workforce by 60%, aiming for about 70 full-time staff by the close of 2026. This expansion is designed to strengthen Airwallex’s operations in Europe and accommodate its expanding client base.
International Payments Platform
Airwallex operates a worldwide payments platform that enables international payments, multi-currency accounts, and online transactions. Founded in 2015, the company has swiftly expanded, attracting substantial investment and growing its global presence.
Strong Financial Support
In 2017, Airwallex secured US$13 million ($19.4 million) in a Series A funding round led by Tencent. Recently, a Series G funding attempt raised US$330 million, boosting its valuation to over US$6 billion, with annual recurring revenue surpassing US$1 billion.
Emphasis on European and American Markets
Having primarily concentrated on Australia and the Asia-Pacific markets, Airwallex is now focusing on its growth in Europe and the Americas. The company acquired a Dutch license in May 2021, which allows access to the European Economic Area.
Market Competition
Airwallex caters to over 150,000 clients, including notable companies like Shein, Bolt, TikTok, and Canva. It contends with well-established European payment processors like Adyen and Mollie, along with the Dutch digital bank Bunq.
Conclusion
Airwallex’s investment in the Netherlands marks a strategic effort to bolster its presence in Europe. By expanding its workforce and utilizing its international payment platform, the company aims to position itself against established European competitors and capture a bigger market share.
Q: What amount is Airwallex planning to invest in the Netherlands?
A: Airwallex is set to invest €200 million ($349 million) in the next five years.
Q: How many employees will Airwallex have in Amsterdam by 2026?
A: Airwallex is targeting around 70 full-time employees in Amsterdam by the end of 2026.
Q: What is the focal point of Airwallex’s business?
A: Airwallex operates a global payments platform that facilitates international transactions and payments for enterprises.
Q: What is Airwallex’s valuation following the latest funding round?
A: Post the recent Series G funding, Airwallex’s valuation has surpassed US$6 billion.
Q: Which European companies represent Airwallex’s primary competition?
A: Airwallex competes with European payment processors like Adyen, Mollie, and the Dutch digital bank Bunq.
