Payments firm Airwallex expands to Israel, seeks cyber security acquisitions

Global funds agency Airwallex mentioned on Tuesday it was opening an workplace in Israel this week as a part of plans to broaden within the Middle East and globally.

Founded in Australia, the monetary know-how firm mentioned its Israeli operations, which is able to start on Thursday, can be a primary step in direction of increasing throughout Europe, the Middle East and Africa in 2023. It already serves quite a lot of Israeli companies.

Or Liban, who will head the corporate’s Israel operations, mentioned the nation’s high-tech ecosystem, through which startups look to be international from the outset, was a fundamental think about increasing to Tel Aviv.

“There’s quite a lot of startups that might be relevant for our mergers and acquisition strategy, namely around cyber security, fraud detection, threat prevention. It’s a very vibrant ecosystem,” Liban advised Reuters.

He famous that whereas there have been no offers at the moment within the works, there have been many alternatives for the corporate.

Airwallex is valued at $5.5 billion and has raised $900 million from buyers together with Salesforce Ventures, Sequoia, Tencent, Square Peg, Lone Pine Capital and 1835i and processes greater than $50 billion in transactions a yr.

Stay on prime of know-how and startup news that issues. Subscribe to our every day e-newsletter for the most recent and must-read tech news, delivered straight to your inbox.