Investing without borders: Plum delivers its mission with Airwallex
Find out why leading wealth management and investing app Plum chose Airwallex to power its stock investing feature.
Bank-beating FX rate
ensures Plum clients get the best return on their investment
Dedicated engineering team
allowed for fast platform integration
Multiple FX capabilities
reduces the settlement risk for brokers
Plum is a wealth management and investing app that uses open banking and automation to help clients understand their spending habits, save little and often, and grow their money through investment.
Industry
WealthTech
Company size
100–150 employees
Location
London, United Kingdom
Airwallex Products Used
Victor Trokoudes
CEO and Co-Founder of Plum
"Airwallex is the perfect cross-border payments and FX partner to support our mission. Their strong technological infrastructure and dedicated engineering support team has allowed for a seamless integration process."
Plum has a mission: To make your money go further.
The leading wealth management and investing app uses open banking and automation to help clients understand their spending habits, save little and often, and grow their money through investment.
When choosing a cross-border payment solution for their new stock investing feature, Plum CEO and Co-Founder Victor Trokoudes knew they needed a partner that would help them deliver on their core mission, so he came to Airwallex.
Airwallex’s experience working in the WealthTech ecosystem and our dedicated engineering teams allowed for the fast integration of flexible FX capabilities into the Plum platform.
Airwallex was also able to deliver direct integration with US clearing brokers and support a variety of broker clearing models, from Fully Disclosed to Omnibus and Self-Clearing.
How is Plum using Airwallex?
Plum’s new investment feature allows clients to trade in various stocks, including Fortune 500 companies such as Google and Apple, from as little as £1.
Plum enables clients to invest in 500+ US companies across a range of industries and options, including tech, healthcare, and ethical finance. The company plans to expand its offering to the EU.
With its Airwallex cross-border payments integration, Plum can ensure clients get the best exchange rate when buying and selling stocks internationally. Airwallex’s flexible FX capabilities built into the platform allow clients to benefit from a greater return on their investments.
Victor Trokoudes
CEO and Co-Founder of Plum
"Airwallex as a business knew what they were doing, they had done it in other markets, so there wasn’t much of a risk. The willingness to explore and build together led us to work with them."
Building flexible FX into Plum
Challenge
Plum wanted to minimize FX fees for customers when trading international stocks.
They needed a solution that would allow for inexpensive multi-currency exchanges and direct integration with US clearing brokers. They also needed a partner to work quickly and facilitate a fast go-to-market for their new stock investing feature.
Solution
Plum built Airwallex’s multi-currency payment acceptance and low FX rate into their platform. That means when Plum clients trade stocks from international companies, they can be sure they always get the best exchange rate.
With Airwallex , Plum can collect, hold, and convert funds in multiple currencies at a bank-beating FX rate. Additionally, 24/7 FX settlement allows for FX rates outside of market hours, Quotes add more stability by locking in rates, and Post Fund FX reduces the settlement risk for brokers.
The Airwallex integration will help Plum minimize the cost of international investment and deliver on its promise to make its customers' money go further.
Seamless platform integration
Airwallex was designed for businesses like Plum.
The process of building Airwallex into the Plum product was smooth thanks to our experience working in the WealthTech ecosystem, our user-friendly APIs and our fast-working engineering team, who implemented the features to cover Plum’s needs in record time.
Lefteris Economides
Product Manager at Plum
"Building Airwallex into our product was basically seamless, thanks to their easy-to-use APIs and dedicated engineering support team. What was really impressive was that they implemented new features and customised their product really fast to cover all our needs."
Empowering businesses to build without limits
Airwallex helps businesses like Plum grow without borders and deliver the best results for their customers.
Jed Rose, GM, EMEA at Airwallex, said: “How a person manages their wealth is key to their financial success, and Plum has identified an innovative way to help achieve that.
We are excited to be Plum’s partner of choice as they look to grow internationally, supporting them on their latest stock investing feature. Our global financial infrastructure aims to empower businesses just like Plum, enabling them to operate anytime and anywhere. We look forward to deepening our partnership and together, continuing to innovate through technology.”
What users say about Airwallex
"Airwallex has been a game changer for all our banking needs. As a fast-growing startup, we need a scalable yet cost-efficient batch payment solution to pay our employees and vendors both inside and outside Hong Kong. Airwallex helps us save money on every bank transfer with their near-zero transaction fee and market-beating FX rates. We also use Airwallex’s multi-currency Visa cards for business travel expenses and SaaS subscriptions to avoid hidden bank fees that would otherwise have been difficult to spot. Would highly recommend other startups to get started with Airwallex!"
Henson Tsai
Founder, SleekFlow
"Airwallex has been great for our team - it makes payments and transfers so much easier, and has saved us significant amounts of time compared to what we were doing before with HSBC. Airwallex's platform is easy to use and very intuitive. Airwallex virtual card has solved most of our painpoints with sharing corporate card numbers and credit card limits. The best part is being able to save money on all our monthly bank transfers, and we've already saved thousands of dollars by using Airwallex. Airwallex's support has also been highly responsive to troubleshoot any issues in a timely manner."
Sarah Chang
Co-founder & COO, Forkast.News
“Airwallex provides us with flexibility and cost savings in dealing internationally. We used Airwallex to receive our recent global fundraising round and pay international suppliers and are saving at least 5% per dollar transferred versus the big banks.”
George van Dyck
Finance Manager, Zoomo
“Airwallex has been a game changer for us. I cannot recommend these guys enough. The forex services are super efficient and super competitive. The customer service is not gold-plated, it's solid gold. One of the best eCommerce services for merchants we have come across since PayPal hit the scene 20 years ago."
Murray Kester
CEO, Cosmetics Now – eCommerce
“Having all our global SaaS subscriptions in one place has streamlined our finance processes and enabled better tracking and control of expenses. It’s even better knowing that Airwallex isn’t hitting us with any international transaction fees.”
Warren Durling
Chief Operating Officer, Dovetail – Digital Agency
“Airwallex is our one-stop shop for all our banking needs, in one easy-to-use interface. Without Airwallex, we would not have been able to scale our business as fast as what we’ve been able to achieve.”
Andrew Ford and Rosa-Clare Willis
Co-founders, Crockd – eCommerce
“Airwallex saves us $40,000 annually in collections costs from our sales on Amazon, which is the majority of our sales in the U.S. market. It also allows us to ‘repurpose’ our international currencies. For example, if we sell in Europe we can pay European suppliers in Euros as well. There’s no need to ‘double convert."
Edward Agaba
Controller, Dalstrong
