Airwallex acquires MexPago to expand in Latin America

Airwallex has entered into a definitive agreement to acquire MexPago, with the intention of expanding its financial infrastructure into the Latin American market. The acquisition, pending regulatory approval, involves the purchase of MexPago, a Mexico-based payment service provider holding an Institution of Electronic Payment Funds (IFPE) license.

This strategic move is part of Airwallex’s overarching growth strategy in the Americas, where the company has seen remarkable year-over-year revenue growth, exceeding 460%. Airwallex is a prominent global financial platform offering comprehensive solutions for modern businesses, encompassing payments, treasury management, spend management, and embedded finance. Leveraging its proprietary infrastructure, Airwallex simplifies global payments and financial operations, empowering businesses of all sizes to pursue international opportunities and expand across borders. The company’s client list includes well-known names such as Brex, Rippling, Navan, Qantas, SHEIN, and more.

MexPago is a regulated FinTech firm that has revolutionised payment methods for merchants in Mexico. They provide an integrated payment platform that facilitates various payment types, including major card networks like Visa, MasterCard, and American Express, as well as SPEI interbank transfers.

MexPago’s platform streamlines payment collection, enhancing the efficiency of payouts to suppliers and employees through a user-friendly interface.

Luis Castillejos Ordaz, CEO of MexPago, expressed enthusiasm about the acquisition, highlighting Airwallex’s unique ability to connect companies across borders. The combination of MexPago’s payment capabilities in Mexico and Airwallex’s global financial infrastructure is poised to open exciting opportunities for both Mexican companies looking to operate globally and international companies seeking to enter the Mexican market.

Ravi Adusumilli, Executive General Manager, Americas at Airwallex, views this acquisition as a pivotal milestone, marking Airwallex’s foray into the Latin American market and its commitment to developing a global and proprietary financial infrastructure. The impressive revenue growth of over 460% in the Americas region underscores the demand for end-to-end FinTech solutions that enable organisations to operate globally. With the addition of MexPago, Airwallex is positioning itself to become the premier payments and financial platform for modern businesses looking to expand globally. The company eagerly anticipates the integration of the MexPago team into the Airwallex family.