When was Wallex founded?

Wallex was founded in 2015 and raised its 1st funding round 1 year after it was founded.

Where is Wallex located?

Wallex is headquartered in Singapore, Singapore. It is registered at PLAYFAIR ROAD, Singapore, 367987.

Which legal entities is Wallex associated with?

Wallex is associated with M-DAQ PAYMENT SOLUTIONS PTE. LTD..

How many employees does Wallex have?

As of Sep 30, 2026, the latest employee count at Wallex is 112.

Is Wallex a funded company?

Wallex is a funded company, having raised an undisclosed amount across 3 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on 2016.

When was the latest funding round of Wallex?

Wallex's latest funding was a $***** Series A round on Jun 10, 2020, with participation from 6 investors.

Where does Wallex rank among its competitors?

Wallex ranks 39th amongst 616 active competitors, of which 102 are funded. It stands 11th in terms of total funding among its competitors. The most recent competitor to raise funding was Airwallex, which secured $320M in Jun, 2026.

Who are the top competitors of Wallex?

Wallex's top competitors include Payoneer, Airwallex and Ebury. Among them, Airwallex secured the most recent funding round in June, 2026.

Wallex - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Cross-border payments acceptance and management solution for businesses. It provides multicurrency wallets, payment acceptance with conversion to local currency, and more. It also provides a solution that enables financial institutions to provide cross-border remittance services to the end customers.

Website: www.wallex.asia/
Social
Email ID: *****@wallextech.com
Registered Address: PLAYFAIR ROAD, Singapore, 367987

Key Metrics

Founded Year

2015

Location

Singapore, Singapore

Stage

Acquired

Latest Funding Round

Series A, Jun 10, 2020, $*****

Investors

Beenext & 15 more

Ranked

39^th among 616 active competitors

Employee Count

112 as on Sep 30, 2026

Similar Companies

Payoneer & 446 more

Exit Details

Acquired by M-DAQ (Feb 22, 2022)

View Wallex's full profile

Wallex is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
M-DAQ PAYMENT SOLUTIONS PTE. LTD. UEN: 201511881E , Singapore, Active	May 04, 2015	-	-

Wallex got acquired by M-DAQ on Feb 22, 2022.

Click here to take a look at Wallex's acquisition in detail

Wallex has raised funding over 3 rounds. Its first funding round was on 2016. Its latest funding round was a Series A round on Jun 10, 2020 for $*****. 6 investors participated in its latest round. Wallex has 12 institutional investors and 4 angel investors.

Here is the list of recent funding rounds of Wallex:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jun 10, 2020	3726140	Series A	7183112	5580857	2070536	4397663
Oct 10, 2018	4715212	Seed	9904727	2656176	3191765	Central Capital Ventura & 4 more
2016	7128	Seed	5751	9454	Amand Ventures	4609

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View details of Wallex's funding rounds and investors

The founders of Wallex are Shang Ping Ting, Hiroyuki Kiga and Jody Ong.

Here are the details of Wallex's key team members:

Shang Ping Ting: Co-Founder of Wallex and founder of 2 other companies, SNAP Innovations and Snap Bots. They serve on the boards of 2 companies.
Hiroyuki Kiga: Co-Founder & COO of Wallex and founder of 1 other company. They serve on the board of 1 company.
Jody Ong: Co-Founder / CEO of Wallex.

Wallex's Board of Directors

Wallex's board has 2 active members. Hiroyuki Kiga is part of team and Chionh Chye Kit is independent board member.

Here is the list of Wallex's board of directors:

Name	Type	Representing	Status	Duration
Hiroyuki Kiga	Team	-	Current	10y 5m
Chionh Chye Kit	Independent board member	-	Current	8y 11m
iqfpagc	Independent board member	-	Past	1y 6m
xnkcwwq	Independent board member	-	Past	7y 2m

View details of Wallex's Founder profiles and Board Members

Wallex's employee count trend

Wallex has 112 employees as of Sep 26. Here is Wallex's employee count trend over the years:

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Top competitors of Wallex include Payoneer, Airwallex and Ebury. Here is the list of Top 10 competitors of Wallex, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Payoneer 2005, New York City (United States), Acquired	Provider of cross-border payment solutions for freelancers, businesses, and marketplaces	$269M	TCV, Wellington & 24 others	85/100
2nd	Airwallex 2015, Singapore (Singapore), Series H	Provider of financial infrastructure for processing payments and managing treasury	$1.9B	Lone Pine Capital, Addition & 52 others	84/100
3rd	Ebury 2009, London (United Kingdom), Acquired	Provider of global payment solutions, currency risk management, and business lending	$374M	Vitruvian Partners, 83NORTH & 17 others	80/100
4th	PayU 2002, Amsterdam (Netherlands), Funding Raised	Provider of online payment solutions and financial services for businesses	-	PROSPER, Gecad Ventures & 4 others	75/100
5th	Thunes 2016, Singapore (Singapore), Series D	Provider of a global payment infrastructure platform for businesses and financial institutions to facilitate cross-border transactions	$362M	Marshall Wace, Vitruvian Partners & 19 others	75/100
6th	XTransfer 2017, Shanghai (China), Series D	Provider of cross-border trade payment platform for global businesses	$168M	http://lhcp.com, D1 Capital Partners & 12 others	74/100
7th	TazaPay 2020, Singapore (Singapore), Acquired	Provider of cross-border payment solutions for businesses to collect, hold, and pay seamlessly across the globe	$57.9M	Peak XV Partners, January Capital & 18 others	72/100
8th	Skydo 2022, Bengaluru (India), Series A	Digital platform enabling businesses to receive payments from overseas businesses	$20M	Elevation Capital, SIG Venture Capital & 5 others	69/100
9th	Xflow 2021, Bengaluru (India), Series A	Provider of infrastructure for processing and managing cross border payments	$32.8M	General Catalyst, Lightspeed & 10 others	69/100
10th	InstaReM 2014, Singapore (Singapore), Series C	Cross-border money transfers for businesses and individuals	$5M	Vertex Ventures, MDI Ventures & 4 others	67/100
39th	Wallex 2015, Singapore (Singapore), Acquired	Cross-border payments acceptance and management solution for businesses	-	BAce Capital, 500 Global & 14 others	54/100