Melbourne-founded business banking firm Airwallex has announced plans to expand its operations across Europe, the Middle East, and Africa (EMEA) by the end of the decade. This expansion will include an investment of $US590 million ($1.1 billion) in its regional base located in the United Kingdom. Airwallex provides international payment solutions for businesses, offering services such as global money transfers and multi-currency accounts. The company aims to simplify cross-border transactions for businesses of all sizes.
As part of its expansion strategy, Airwallex intends to introduce new products, including credit cards and billing management tools, to the EMEA market. The company also plans to increase its UK workforce to 160 employees by the end of the next year, involving a significant hiring initiative. The investment will cover various operational costs, such as acquiring necessary licenses, paying fees, and implementing local marketing campaigns to build brand awareness and market penetration.
Airwallex has already taken steps to bolster its presence in the UK, including relocating to a larger office space in London’s Fitzrovia district. Further strengthening its leadership team, the company has appointed Christos Chamberlain, previously the North Europe general manager at logistics firm Flexport, as its new head of operations for the UK and the broader European region. Chamberlain’s experience will be instrumental in driving Airwallex’s growth and expansion plans across EMEA.
In a separate announcement this week, Airwallex revealed it has secured $590 million in a recent funding round. This round, which valued the company at $US8 billion, attracted investments from prominent firms such as T. Rowe Price and Robinhood Ventures. The funding will further support Airwallex’s ambitious expansion plans and product development initiatives.
