(13 July 2023 – Singapore) International payments fintech startup Airwallex has transferred ownership of its India and New Zealand operations from Australia to the Cayman Islands.
Airwallex’s Australian entity holds A$502 million for clients as of 31 December 2022, offering banking and international transfer services to small businesses and corporates. Airwallex enables businesses to set up bank accounts, process multicurrency payments and manage expenses. Previously headquartered in Hong Kong, the group recently shifted its centre of operations to Singapore.
Co-founded by Jack Zhang and Lucy Liu in a Melbourne coffee shop in 2015 alongside co-founders Xijing Dai and Max Li, the company’s technology enables China-based retailers selling to Britain and Australia to receive payments in Renminbi same day.
“Each of our regional Airwallex entities complies with their respective governments corporate regulations and requirements, including Airwallex Australia. The company will continue to file its audited financial statements with ASIC as required” an Airwallex company spokesman said to the AFR.