Airwallex, a global payments and financial platform for modern businesses, today announced it has signed a definitive agreement to acquire MexPago, a Mexico-based payment service provider and an Institution of Electronic Payment Funds (IFPE) license-holder.
The transaction is subject “to regulatory approvals and customary closing conditions.”
This acquisition will enable Airwallex “to expand its financial infrastructure into Latin America and advance its mission to empower and support businesses to grow and operate across borders.” It is an important part of Airwallex’s broader growth strategy “in the Americas, where the company has seen more than 460% YOY revenue growth.”
Luis Castillejos Ordaz, CEO of MexPago, said:
“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.”
Ravi Adusumilli, Executive General Manager, 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.”
Airwallex’s San Francisco office continues “to serve as a strategic hub for the company’s growth in the region.”
Among the 80+ employees in the U.S., Airwallex announced “the appointment of several senior leaders in San Francisco who are responsible for guiding Airwallex’s strategy at the global level and expansion in the region,” including:
- Somas Thyagaraja, Head of Product, Business Accounts
- Elliot Colquhoun, Vice President of Global Information Security and IT, has relocated to San Francisco from New Zealand
- Erin Batty, Director, Global Employee Communications
- Andy Luo, Director of Revenue Strategy, Americas
- Veena Bontu, Director of Global Product Marketing
- Lea Cademenos, Director of Corporate Affairs, Americas
Founded in Melbourne in 2015, Airwallex is headquartered “in Singapore with 20 offices around the world.”
The company currently “employs 1,400 people globally with plans to hire 500+ new teammates over the next year.”