Airwallex, a fintech unicorn, expands into Latin America with the acquisition of MexPago in Mexico, leveraging the region's young population and increasing online penetration. The move aligns with geopolitical tensions between the U.S. and China, as Mexico serves as a bridge between the two. Airwallex aims for $100 million in annual recurring revenue and is considering an IPO once it reaches this amount. Additionally, the Singapore unit of Airwallex receives a $165 million capital injection from its parent company, Airwallex (Cayman Ltd.).

Airwallex Expands into Latin America