Airwallex Strengthens with MexPago Acquisition

Airwallex Strengthens with MexPago Acquisition

Time Stamp: October 20, 2023 5:10 AM
Airwallex Strengthens with MexPago Acquisition PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Airwallex,
a payments and financial platform for businesses, has made a considerable move by
signing an agreement to acquire MexPago, a Mexico-based payment service provider
and an Institution of Electronic Payment Funds license-holder. This
strategic transaction is pending regulatory approvals and customary closing
conditions.

Airwallex
offers a suite of solutions that include payments, treasury management, spend
management, and embedded finance. The company’s proprietary infrastructure
simplifies global payments and financial operations, making it easier for
businesses of different sizes to embrace new opportunities.

Headquartered
in Melbourne, Airwallex serves over 100,000 businesses worldwide and counts
brands like Brex, Rippling, Navan, Qantas, SHEIN, and many others among its
trusted partners.

Ravi
Adusumilli, the Executive General Manager of Americas at Airwallex, said: “This is a critical milestone for Airwallex.
It marks our entry into Latin America and our commitment to building truly
global and proprietary financial infrastructure. Our team’s ability to drive
more than 460% revenue growth in the Americas region is a testament to the
vast, unmet demand for end-to-end fintech solutions that allow organizations to
operate at a global scale.”

“With
the acquisition of MexPago, we’re on a path to become the number one payments
and financial platform for modern businesses to go global. We’re excited to
welcome Luis and the MexPago team to the Airwallex family.”

On
the other hand, MexPago is a regulated fintech company in
Mexico, empowering merchants to streamline payment processes and receive
various types of payments through a single integrated platform.

MexPago’s
clients can accept payments from major card networks such as Visa, MasterCard,
and American Express, as well as utilize SPEI interbank transfers for both
online and physical stores. This platform supports
payment collection for products and services, as well as disbursements to
suppliers and employees.

Latin America Expansion:
Airwallex’s Next Strategic Frontier

The
acquisition of MexPago by Airwallex is a strategic move that allows the company
to extend its financial
infrastructure into Latin America. It forms a part of Airwallex’s overarching
growth strategy in the Americas, a region where the company has experienced
remarkable year-over-year revenue
growth, exceeding 460%.

Luis
Castillejos Ordaz, the CEO of MexPago, expressed his enthusiasm for the
collaboration: “Airwallex’s ability to connect companies across
borders is unparalleled. The combination of MexPago’s payments capabilities in
Mexico and Airwallex’s global financial infrastructure will unlock exciting
opportunities for companies in Mexico to operate globally, and for companies
around the world to operate in Mexico. I look forward to working closely with
Airwallex to obtain the necessary approvals and to ensure a smooth transition
of ownership.”

Airwallex,
a payments and financial platform for businesses, has made a considerable move by
signing an agreement to acquire MexPago, a Mexico-based payment service provider
and an Institution of Electronic Payment Funds license-holder. This
strategic transaction is pending regulatory approvals and customary closing
conditions.

Airwallex
offers a suite of solutions that include payments, treasury management, spend
management, and embedded finance. The company’s proprietary infrastructure
simplifies global payments and financial operations, making it easier for
businesses of different sizes to embrace new opportunities.

Headquartered
in Melbourne, Airwallex serves over 100,000 businesses worldwide and counts
brands like Brex, Rippling, Navan, Qantas, SHEIN, and many others among its
trusted partners.

Ravi
Adusumilli, the Executive General Manager of Americas at Airwallex, said: “This is a critical milestone for Airwallex.
It marks our entry into Latin America and our commitment to building truly
global and proprietary financial infrastructure. Our team’s ability to drive
more than 460% revenue growth in the Americas region is a testament to the
vast, unmet demand for end-to-end fintech solutions that allow organizations to
operate at a global scale.”

“With
the acquisition of MexPago, we’re on a path to become the number one payments
and financial platform for modern businesses to go global. We’re excited to
welcome Luis and the MexPago team to the Airwallex family.”

On
the other hand, MexPago is a regulated fintech company in
Mexico, empowering merchants to streamline payment processes and receive
various types of payments through a single integrated platform.

MexPago’s
clients can accept payments from major card networks such as Visa, MasterCard,
and American Express, as well as utilize SPEI interbank transfers for both
online and physical stores. This platform supports
payment collection for products and services, as well as disbursements to
suppliers and employees.

Latin America Expansion:
Airwallex’s Next Strategic Frontier

The
acquisition of MexPago by Airwallex is a strategic move that allows the company
to extend its financial
infrastructure into Latin America. It forms a part of Airwallex’s overarching
growth strategy in the Americas, a region where the company has experienced
remarkable year-over-year revenue
growth, exceeding 460%.

Luis
Castillejos Ordaz, the CEO of MexPago, expressed his enthusiasm for the
collaboration: “Airwallex’s ability to connect companies across
borders is unparalleled. The combination of MexPago’s payments capabilities in
Mexico and Airwallex’s global financial infrastructure will unlock exciting
opportunities for companies in Mexico to operate globally, and for companies
around the world to operate in Mexico. I look forward to working closely with
Airwallex to obtain the necessary approvals and to ensure a smooth transition
of ownership.”

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