Global fintech giant Airwallex said it has acquired MexPago, a rival payments company based out of Mexico, for an undisclosed sum.
The deal will help Airwallex, which is backed by the likes of Tencent and Li-Kashing, Hong Kong's richest man, expand in the Americas.
Jack Zhang, SumUp's CEO, said the company was looking at Mexico as something as a hedge as it deals with geopolitical and economic uncertainty going on between the U.S. and China. U.S.-China trade tensions have escalated in recent years, as Washington seeks to address what it sees as China's race to the bottom on trade.China has sought to address these concerns, agreeing to "substantially reduce" the U.S. trade deficit by committing to "significantly increases" its purchases of American goods, although it's
It has been a tough environment for fintech companies to operate in lately, given how interest rates have risen sharply. That has made it more costly for startup firms to raise capital from investors. Zhang is targeting $100 million of annual recurring revenue for the business within the next year or two. Once Airwallex reaches this point, he says, it will then look at a public listing.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
As U.S.-China tensions rumble on, fintech unicorn Airwallex pushes into Latin America with Mexico dealGlobal fintech giant Airwallex said it has acquired MexPago, a rival payments company based out of Mexico, for an undisclosed sum.
Consulte Mais informação »
Mexico’s AMLO to host multinational immigration summit with Latin American, Caribbean leadersMexican President Andrés Manuel López Obrador said that Mexico will host a multinational summit on the ongoing migrant crisis. Cuba, Venezuela, Haiti and Honduras will attend.
Consulte Mais informação »
China’s NBS: Positive momentum of China's economic recovery more obvious in Q3Following the release of the high-impact economic data from China for September, the National Bureau of Statistics (NBS) expressed its outlook on the
Consulte Mais informação »
Latin Grammy 2023: Anuncian a los primeros artistas que actuarán en la ceremonia de SevillaCuatro de las celebridadaes anunciadas llegan con nominaciones a la edición 24 de estos premios que se entregarán por primera vez en España
Consulte Mais informação »
2023 Latin Grammys Performers: Feid, Bizarrap & MoreThe 24th annual Latin Grammy Awards will broadcast from FIBES in Seville, Spain, in November.
Consulte Mais informação »
Drake's ‘Gently’ With Bad Bunny Debuts at No. 1 on Hot Latin SongsThe Spanglish dembow is the rapper’s first visit since his featured role on Benito’s “MIA.”
Consulte Mais informação »