Airwallex To Expand Its Payments Services To Israel

Airwallex, a global payments firm, announced on Tuesday that it will open an office in Israel this week as part of its plans to expand in the Middle East and globally.

The financial technology company, which was founded in Australia, stated that its Israeli operations, which will begin on Thursday, will be the first step towards expanding across Europe, the Middle East, and Africa in 2023. It already serves several Israeli companies.

Or Liban, who will lead the company's Israel operations, stated that the country's high-tech ecosystem, in which startups aim to be global from the start, was a major factor in the company's decision to expand to Tel Aviv.

"There are a lot of startups that could be relevant for our mergers and acquisition strategy, specifically in the areas of cyber security, fraud detection, and threat prevention." "It's a very active ecosystem," Liban said.

He stated that, while no deals were currently in the works, the company had many opportunities.

Airwallex is worth $5.5 billion, has raised $900 million in funding from investors including Salesforce Ventures, Sequoia Capital, Tencent, Square Peg, Lone Pine Capital, and 1835i, and processes more than $50 billion in transactions per year.