Airwallex has raised more than $900m USD and beyond that, they've raised another $100m...so now they're fishing for software companies.
👉 Background: Airwallex is a payments fintech that was started back in 2016. And it ain't just any fintech - it was the fastest company in Australian history to become a unicorn - after just 3 years.
👉 What happened: Airwallex started by providing cross-border payments for businesses, but it has grown its products to include bank accounts and payments rails. Get this: Airwallex has raised more than $900m USD so far, and now, they've raised another $100m USD. Why not?
👉 What else: The company reckons now is a great time to snap up software companies after a bit of a market correction. Supposedly, these tech companies have dropped in value by 50% - 80%. Yikes!
💡A stock market correction is when we experience a continued decline in the value of a market index, like the ASX… or the price of an individual asset. And while market corrections can cause pain for some, they’re an opportunity for others.
💡In March 2009, during the GFC, the ASX200 hit a low of 3,120. In hindsight, this was a great opportunity to buy because the ASX200 is up 115% since then!
💡While this tech correction isn’t nearly as dire as the GFC, investors or companies that have built up a war chest of cash are looking to capitalise on good opportunities.
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