Airwallex announces new venture capital fund FXcompared.com
- Airwallex, an international financial technology company focused on money transfers and payments, has confirmed that it will run its own venture capital fund called Capital 49.
- Capital 49 will invest in companies across a variety of industries, including fintechs and software as a service (SaaS) companies.
- âWe are committed to investing and fostering the growth of technology companies, especially at a time when there is a huge appetite for innovative solutions to improve business efficiency,â said an Airwallex official.
Airwallex, one of the world’s leading financial money transfer companies, has announced the creation of a new venture capital fund.
Capital 49 is described as an early stage venture capital fund, and the company aims to invest in companies that are already part of the Airwallex ecosystem.
It is understood that Airwallex will target a range of companies, including FinTech companies, and has apparently already invested in two of those companies.
It will also target other companies with a payment dimension, in particular the e-commerce sector.
In addition, Airwallex plans to enter the Software as a Service (SaaS) business.
Airwallex was created six years ago.
She is based in Melbourne and has a large portfolio of services on her books, including foreign currency accounts.
Customers can use it to accept payment methods in their own locality.
It provides end-to-end services to clients in a variety of areas, including commercial accounts and value-added solutions.
The company has also received significant capital investments in recent years.
Earlier in 2021, the company confirmed that it had raised around $ 100 million as part of its Series D expansion.
It is currently valued well above US $ 2 billion.
In a statement, Jack Zhang, co-founder and managing director of Airwallex, said the company was “excited” to reveal the news.
Zhang, who is also one of the founders of Capital 49, added that the company saw the need for companies to develop a “technological advantage”.
“We are delighted to share the news of our new fund,” he said.
âAs a member of the fintech and start-up ecosystem, we have consistently observed that a clear technological advantage is extremely important for a company to stand out from the competition.
“That is why we are committed to investing and fostering the growth of technology companies, especially at a time when there is a huge appetite for innovative solutions to improve business efficiency.”
He went on to say that the company has relied on other organizations in its ecosystem to help it develop its growth in recent years.
âAs an organization, Airwallex could not have achieved what it has today without the players in our ecosystem,â he said.
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