What is Wirex?
Founded in 2014 by Pavel Matveev and Dmitry Lazarichev, Wirex is a regulated financial institution that pioneered the world's first contactless payment card enabling users to spend both cryptocurrencies and traditional currencies seamlessly. With a user base exceeding three million across 130 countries, Wirex offers a secure mobile app for storing, buying, and exchanging multiple currencies at competitive live rates. The platform integrates next-generation payment infrastructure with cryptocurrency blockchains, facilitating easy digital asset transactions. Wirex also introduced the industry's first Bitcoin reward program, Cryptoback, and its native utility token, WXT, offering holders enhanced benefits and rewards. The company's commitment to innovation is balanced with adherence to regional regulations and licensing requirements.
How much funding has Wirex raised?
Wirex has raised a total of $7.8M across 2 funding rounds:
Series A
$3M
Angel/Seed
$4.8M
Series A (2017): $3M with participation from SBI Holdings, Inc
Angel/Seed (2020): $4.8M, investors not publicly disclosed
Key Investors in Wirex
SBI Holdings, Inc
SBI Holdings is a diversified Japanese financial services group with a broad portfolio spanning financial services, asset management, and biotechnology. Their investment in Wirex likely reflects an interest in the intersection of digital payments, cryptocurrency, and traditional finance, aligning with their strategic focus on digital innovation and global market expansion.
What's next for Wirex?
The substantial enterprise-level funding Wirex has garnered, particularly the recent strategic investment, positions the company for accelerated growth and further product development. This backing is expected to fuel Wirex's expansion into new markets and enhance its existing offerings, including its innovative payment card and reward programs. The company's focus on integrating digital assets with traditional payment systems, coupled with its regulatory compliance, suggests a strategic push to solidify its position as a leader in the global digital payments space. Wirex's trajectory indicates a strong potential for continued innovation and market penetration in the evolving fintech landscape.
See full Wirex company page
