Airwallex secures Electronic Money Institution licence in the Netherlands
By Sunniva Kolostyak
Payments platform Airwallex has received a license to operate as an Electronic Money Institution (EMI) from the Dutch central bank, De Nederlandsche Bank (DNB), gaining access to the European single market.
With the EMI certification, Airwallex will be able to offer an enhanced range of products and services to customers across Europe, bolstering its growth by offering businesses an end-to-end solution for FX, card issuing and online payments.
DNB granted the license on 30 April 2021, making it the latest approval for the FinTech in its core markets, including the UK, United States, Australia, and Hong Kong.
Commenting on the EMI approval, Jed Rose, General Manager of EMEA at Airwallex said: “We are delighted to have been granted an EMI licence by the DNB. This is a significant milestone for Airwallex as we look to deepen our presence in the European market and address the pain points faced by many businesses who are looking for a simpler, more convenient and transparent process to support their payments needs. We look forward to providing businesses in Europe with a full product stack to empower their growth.”
Founded in 2015 in Melbourne, Airwallex is a global payments FinTech with a purpose to empower businesses of all sizes to grow without borders, and by doing so, contribute to the global economy. It has grown to become a global platform that is supported by a team of over 650 employees across 12 global offices.
In March this year, Airwallex announced an additional capital raise of $100 million, lifting its Series D funding round from April 2020 to $300 million, to further accelerate its global expansion, strengthening its capabilities through product innovation and new partnerships. To date, the FinTech has raised almost $500 million in equity funds.
In Europe, the company continues to invest in growth, with plans to double its 50- strong team by the end of the year and build out its presence in Amsterdam.
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage