Airwallex, a number one international funds and monetary platform for rising companies, has signed definitive agreements to amass CTIN Pay, an Middleman Fee Service (IPS) licensed firm in Vietnam. This transaction is topic to satisfaction of the customary closing circumstances.
The acquisition expands Airwallex’s current licences throughout main Asia-Pacific (APAC) markets, together with Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China, and Japan. This transfer deepens the worldwide attain of Airwallex’s monetary infrastructure, aiding Vietnamese retailers of their abroad growth, and facilitating worldwide companies to enter the Vietnamese market.
Vietnam’s financial system, with its robust development and fast digital transformation is properly positioned as a strategic development marketplace for Airwallex within the area. By increasing its monetary infrastructure throughout Southeast Asia, Airwallex is well-positioned to help companies in Vietnam, enabling them to scale internationally with better ease.
Arnold Chan, Normal Supervisor, APAC at Airwallex, mentioned, “Airwallex’s entry into Vietnam is a key step in our technique to construct a very international monetary platform. The fast-growing financial system and dynamic enterprise panorama in Vietnam provide immense alternatives. By addressing monetary challenges in these markets, we empower native companies to develop past borders. We’re notably enthusiastic about our progress and continued growth in APAC, the area the place Airwallex was born.”
To speed up its growth throughout Southeast Asia, Airwallex has appointed Ershad Ahamed as its Head of Southeast Asia. Primarily based in Singapore, Ershad brings intensive expertise from high-growth tech firms, with a powerful monitor report of driving each development and profitability. Most just lately, he held senior administration roles at Seize as Chief Industrial Officer, GrabFin Indonesia and Regional Head of Funds Buying, and was instrumental in constructing their funds and lending enterprise. He has additionally held management positions in development, advertising & go-to-market at Rakuten and Procter & Gamble.
Ershad Ahamed, Head of Southeast Asia at Airwallex, added, “Airwallex’s mission to empower companies with seamless monetary options resonates deeply with me. Southeast Asia is a dynamic and various market, and I look ahead to driving Airwallex’s development within the area. What excites me most is enabling companies right here to unlock worldwide development alternatives with confidence by harnessing our sturdy monetary infrastructure.”
Airwallex is strategically buying firms to strengthen its international presence and construct a sturdy monetary basis for companies worldwide. The acquisition in Vietnam follows the completion of Airwallex’s buy of MexPago, a Mexico-based cost service supplier with an Establishment of Digital Fee Funds (IFPE) licence.
Based in Melbourne in 2015 and now headquartered in Singapore, Airwallex has achieved vital development throughout the APAC area in recent times and final week introduced its official launch in New Zealand. Globally, Airwallex has exceeded US$600 million in annualised income and US$130 billion in annualised transaction quantity – a testomony to the rising demand for its cross-border cost options and international monetary infrastructure.
