Airwallex, a payments and financial platform for businesses, has made a considerable move by signing an agreement to acquire MexPago, a Mexico-based payment service provider and an Institution of Electronic Payment Funds license-holder. This strategic transaction is pending regulatory approvals and customary closing conditions.

Serving 100,000 Businesses Worldwide: Airwallex's Reach

Airwallex offers a suite of solutions that include payments, treasury management, spend management, and embedded finance. The company's proprietary infrastructure simplifies global payments and financial operations, making it easier for businesses of different sizes to embrace new opportunities.

Headquartered in Melbourne, Airwallex serves over 100,000 businesses worldwide and counts brands like Brex, Rippling, Navan, Qantas, SHEIN, and many others among its trusted partners.

Ravi Adusumilli, the Executive General Manager of 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.”

On the other hand, MexPago is a regulated fintech company in Mexico, empowering merchants to streamline payment processes and receive various types of payments through a single integrated platform.

MexPago's clients can accept payments from major card networks such as Visa, MasterCard, and American Express, as well as utilize SPEI interbank transfers for both online and physical stores. This platform supports payment collection for products and services, as well as disbursements to suppliers and employees.

We're excited to announce an agreement to acquire MexPago, a Mexico-based payment service provider.

Learn more here: https://t.co/lBuiHcurKq

[The transaction is subject to regulatory approvals and customary closing conditions] pic.twitter.com/xsvbraqxm0

— Airwallex (@airwallex) October 20, 2023

Latin America Expansion: Airwallex's Next Strategic Frontier

The acquisition of MexPago by Airwallex is a strategic move that allows the company to extend its financial infrastructure into Latin America. It forms a part of Airwallex's overarching growth strategy in the Americas, a region where the company has experienced remarkable year-over-year revenue growth, exceeding 460%.

Luis Castillejos Ordaz, the CEO of MexPago, expressed his enthusiasm for the collaboration: "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."