Xavier Kong · · 1 min readM-Daq-owned B2B payments firm names CTO as co-founder
Wallex, a B2B cross-border payments firm, has named CTO Andrew Marchen as a co-founder, joining current CEO Hiro Kiga.
The announcement comes as Wallex’s acquisition by Singapore-based fintech firm M-Daq Global is completed.
M-Daq founder and group CEO Richard Koh (left) and Wallex CEO Hiro Kiga / Photo credit: M-Daq
Marchen has been the CTO of Wallex since 2019 and has garnered over 20 years of experience in the tech industry.
As CTO, Marchen’s priorities include future-proofing Wallex’s tech stack, applying data-driven product planning, and building resilience against cybersecurity threats.
Launched in 2016, Wallex offers its services in Indonesia, Singapore, China, and Hong Kong. By acquiring Wallex, M-Daq Global strengthens its access to these markets.
The acquisition was first announced in February and came with the announcement that Kiga would replace co-founder Jody Ong as CEO of Wallex. This also marks the first of a series of acquisitions planned by M-Daq Global to strengthen its cross-border payments offerings.
See also: Will Grab’s bid for Home Credit bolster its fintech ambitions?
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
