Airwallex Set to Acquire Mexico's MexPago

Published 8 months ago

Airwallex, a leading global payments and financial platform for modern businesses, has announced plans to acquire MexPago, a Mexico-based payment service provider. This acquisition will mark Airwallex’s entry into Latin America and further its mission to support businesses’ cross-border operations.

Expanding Financial Infrastructure

The acquisition, currently subject to regulatory approvals and customary closing conditions, is a strategic move for Airwallex to extend its financial infrastructure into Latin America. The company has witnessed over 460% YOY revenue growth in the Americas, and this acquisition is a significant part of its broader expansion strategy in the region.

MexPago, an Institution of Electronic Payment Funds (IFPE) license-holder, brings robust payment capabilities in Mexico. This acquisition will enhance opportunities for businesses in Mexico to operate globally and for international companies to function in Mexico.

A Critical Milestone for Airwallex

Ravi Adusumilli, Executive General Manager, Americas at Airwallex, views this as a “critical milestone” for the company. He believes that the acquisition of MexPago will help build a truly global and proprietary financial infrastructure, fulfilling the demand for end-to-end fintech solutions that allow organizations to operate at a global scale.

Strengthening The Team

As part of its growth strategy, Airwallex has also made several senior leadership appointments in its San Francisco office, which serves as a strategic hub for the company’s growth in the region. The new hires include Somas Thyagaraja, Head of Product, Business Accounts; Elliot Colquhoun, Vice President of Global Information Security and IT; Erin Batty, Director, Global Employee Communications, among others.

About Airwallex

Founded in Melbourne in 2015, and now headquartered in Singapore, Airwallex operates 20 offices globally. The company currently has a workforce of 1,400, with plans to hire over 500 more employees over the next year.