Airwallex has acquired South Korean company Paynuri, which holds licences including for electronic payment gateway services and prepaid electronic payment instruments, and is registered to conduct foreign exchange business, it said on Tuesday.
With the licences, Airwallex plans to strengthen its ability to support Korean companies’ global expansion and help companies worldwide operate smoothly in the Asia Pacific region.
Services it is preparing first in Korea are a Global Business Account and payment acquiring. It plans to provide a range of services in stages this year.
The acquisition follows Airwallex’s Series G funding round, after which it was valued at about 11 trillion won ($8 billion).
Arnold Chan (아놀드 챈), Airwallex’s head of Asia Pacific, said the acquisition was “a very important milestone” as the company expands the global reach of its financial platform. “E-commerce and the creative and entertainment industries are providing enormous opportunities for Korean companies on the global stage,” he said. “Airwallex’s goal is to support these companies as they expand their businesses across borders through more efficient solutions,” he said.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr