Growth management

How a unicorn like Airwallex stands up to a challenge (like a pandemic)

The Tencent-backed global payments and foreign exchange unicorn debuted its borderless card last month in Australia, but headwinds, such as the COVID-19 pandemic, is taking its toll on its existing client base.

Airwallex debuted its borderless card in partnership with Visa in Australia last month, targeting businesses needing a convenient way to pay suppliers abroad. Despite the ongoing COVID-19 pandemic, the payments startup, which achieved unicorn status last year, expects the UK card launch to go as planned later this year.

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