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☆ Fintech unicorns are watching Klarna's debut for signs of when IPO window will reopen
▼ + stars: | 2024-11-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Last week, Klarna made a confidential filing to go public in the U.S., ending months of speculation over where the Swedish digital payments firm would list. Still, the development drew buzz from fintech circles with market watchers asking if the move marks the start of a resurgence in big fintech IPOs. For now, that doesn't appear to be the case — however, founders say they'll be watching the IPO market, eyeing pricing and eventually stock performance. Hiroki Takeuchi, CEO of online payments startup GoCardless, said last week that it's not yet time for his company to fire the starting gun on an IPO. However, Zopa's CEO added that he's seeing signs pointing toward a more favorable IPO market in the next couple of years, with the U.S. likely opening up in 2025.

Persons: Hiroki Takeuchi, Zed Jameson, Klarna, they'll, Takeuchi, GoCardless, Lucy Liu, Airwallex, it's, Liu, Jack Zhang, We're, fintech IPOs, Navina Rajan, It's, Rajan, Jaidev Janardana, Janardana, that's Organizations: GoCardless, Bloomberg, Getty, Portugal —, CNBC, Summit, British, U.S Locations: LISBON, Portugal, U.S, Lisbon, Europe

☆ Tencent-backed Airwallex hits $500 million annualized sales, aims to get IPO-ready by 2026
▼ + stars: | 2024-08-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Airwallex, which was most recently valued at $5.6 billion and is backed by Tencent, has been tipped as one of many prominent fintech IPO candidates. Tencent -backed payments startup Airwallex has reached an annual revenue run rate of $500 million and will look to get ready for an initial public offering by 2026, CEO and co-founder Jack Zhang told CNBC in an exclusive interview. In the Americas region, Airwallex grew its revenue by more than 300% year-over-year, according to figures shared with CNBC. The U.K., Europe, and North America now account for more than 35% of Airwallex's overall transaction volumes, Zhang said. "In 2025, we will prepare everything, and we can decide what to do after 2026," he added.

Persons: Tencent, Jack Zhang, Zhang, Airwallex, it's Organizations: CNBC Locations: Singapore, Europe, North America, Americas, Airwallex

☆ As U.S.-China tensions rumble on, fintech unicorn Airwallex pushes into Latin America with Mexico deal
▼ + stars: | 2023-10-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The deal, which is subject to regulatory approvals, marks a major push from Airwallex into Latin America. Global fintech giant Airwallex on Thursday said it has agreed to acquire MexPago, a rival payments company based out of Mexico, for an undisclosed sum to help the firm expand its Latin America footprint. The deal, which is subject to regulatory approvals and customary closing conditions, marks a major push from Airwallex into Latin America, a market that has become more attractive for fintech firms thanks to a primarily younger population and increasing online penetration. We can take a global company to Mexico and also help the global companies making payments to the supply chain." "Mexico is one of the largest populations in Latin America," Zhang added.

Persons: pocketing, Jack Zhang, Zhang, it's Organizations: America, Global, PayPal, U.S, CNBC, U.S . Labour Locations: Mexico, America, China, United States, U.S, Washington, Latin America, Asia

☆ From banking giants to lending up-and-comers — here are the world's top 200 fintech companies
▼ + stars: | 2023-08-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +11 min

Statista identified 40 firms as top digital payments companies. While digital payments is often the area that draws most investor buzz, lending generates more money in financial services. Statista identified 25 fintech companies that fall into the category of top alternate lending firms. They include American small business lending firm Biz2Credit, Irish e-commerce lending company Wayflyer, and Latvian loan refinancing startup Mintos. Digital business solutions

Persons: Monzo, there's, Statista, Afterpay, It's, Binance, eToro, Equity crowdfunding, hasn't, Peter Hazlehurst Organizations: JPMorgan —, Orange, Digital, U.S, SEC, European, Education, Equity, Republic, Tech, Federal Reserve, Bank of England, CNBC, Solaris Locations: fintech, Europe, Nigeria, Orange, Africa, Terra, U.S, Cayman Islands, American, Latvian, U.K

So what's hot in fintech right now? One area fintech companies are getting excited by is an improvement to online checkout tools. Callan Carvey, global head of operations at Cleo, said the firm's AI connects to a customer's bank account to get a better understanding of their financial behavior. "A job that typically would take around one or two weeks can now be completed in 30 minutes, right. Several fintech executives CNBC interviewed spoke of how they're not interested in launching products tailored to crypto as the demand from their customers isn't there.

Persons: MacKenzie Sigalos, hasn't, they've, Starling, Richard Davies, Davies, Niklas Guske, —, B2C fintechs, David Singleton, Guske, dazzled, Cleo, Callan Carvey, Carvey, Teo Blidarus, Taktile's, Hiroki Takeuchi, Takeuchi, Changpeng Zhao, they're, Jack Zhang, Zhang, Prajit Nanu, cryptocurrencies, Banks, Nanu Organizations: Bank, fintechs, CNBC, Business, Allica Bank, B2B, Tiger, Schroders Capital, Atom Bank, Schroders, U.S . Securities, Exchange Commission, SEC, U.S, cryptocurrencies Locations: Amsterdam, MacKenzie Sigalos AMSTERDAM, Netherlands, British, Atomico, U.S

☆ Struggle to find uses for crypto outside of trading, Airwallex CEO says
▼ + stars: | 2023-06-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStruggle to find uses for crypto outside of trading, Airwallex CEO saysJack Zhang, CEO of Airwallex, discusses why the company is not supporting cryptocurrencies at the moment.

Persons: Jack Zhang

☆ Airwallex expands to Israel, seeks cyber security acquisitions
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

Founded in Australia, the financial technology company said its Israeli operations, which will begin on Thursday, would be a first step towards expanding across Europe, the Middle East and Africa in 2023. Or Liban, who will head the company's Israel operations, said the country's high-tech ecosystem, in which startups look to be global from the outset, was a main factor in expanding to Tel Aviv. "There's quite a lot of startups that might be relevant for our mergers and acquisition strategy, namely around cyber security, fraud detection, threat prevention. He noted that while there were no deals currently in the works, there were many opportunities for the company. Reporting by Steven Scheer; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ Tencent-backed Airwallex secures e-payment license in China
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

March 7 (Reuters) - Australian fintech company Airwallex said on Tuesday it has secured an online payment business license in China by acquiring Chinese company Guangzhou Shang Wu Tong Network Technology. The Tencent-backed firm also said it has become a third-party payment provider in China, gaining greater access to the local market. Airwallex, which allows customers to issue and pay international invoices and bills through its payments platform, last year secured $100 million in an extension of a funding round, sustaining its $5.5 billion valuation. The latest approval adds to the company's existing licenses across major markets including Australia, United Kingdom and the United States. Reporting by Aarati Krishna and Maria Ponnezhath in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Australian fintech firm Airwallex raises $100 mln, retains $5.5 bln valuation
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

Oct 11 (Reuters) - Australian fintech company Airwallex said on Tuesday it raised $100 million in an extension of a funding round, sustaining its $5.5 billion valuation. The Melbourne-based company said it secured more funds from existing investors, including Tencent Holdings Ltd (0700.HK), Sequoia Capital China and Lone Pine Capital. Australian industry superannuation fund HostPlus and a North American pension fund also participated in the round, Airwallex said. Register now for FREE unlimited access to Reuters.com RegisterWith the $100 million raised in the Series E extended round, Airwallex's total funding increased to more than $900 million, the company said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Harish Sridharan and Baranjot Kaur in Bengaluru; Editing by Tom Hogue and Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

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