Airwallex announced that it has secured its Electronic Money Institution (EMI) license from the Dutch Central Bank (DNB) on 30 April 2021 which gives it access to the European single market.

This latest approval adds to Airwallex’s existing licenses in its core markets, including the UK, United States, Australia, and Hong Kong.

With its EU EMI license, Airwallex will soon 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.

Earlier this year, Airwallex announced an additional capital raise of US$100 million during a Series D funding round, pushing its valuation to over US$ 2 billion to further accelerate its global expansion, strengthening its capabilities through product innovation and new partnerships.

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.

Founded in 2015 in Melbourne, Airwallex is supported by a team of over 650 employees across 12 global offices.

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.”

Featured image credit: Edited from Unsplash , Photo by Javier M.