Airwallex, a Melbourne, Australia-based fintech startup that facilitates international money transfers, raised $3m in funding.
The round was led by Gobi Partners with participation from Gravity VC and Huashan Capital One.
The company intends to use the funds to develop its proprietary technology stack and roll out key features over the next few months, including a multicurrency digital wallet and APIs for ecommerce platforms.
Led by co-founder and CEO Jack Zhang, Airwallex offers integrated solutions for business and personal crossborder transactions including payment collection, foreign exchange, remittance and security settlement.
Currently in beta trial stage, the company’s platform leverages a peer-to-peer algorithmic engine that enables businesses to issue and pay invoices in their preferred currency at the midmarket foreign exchange rate.
Airwallex also has offices in Hong Kong.