Case Study: Vinomofo saves thousands monthly with Airwallex

Vinomofo sees ripple effect of savings and efficiencies with Airwallex

Vinomofo, an Australian wine eCommerce business with over 500,000 customers, was looking for a way to reduce the high cost and complexity of managing foreign exchange exposure in its Singapore operations. With all Singapore sales imported and converted back to Australian dollars, the company was losing money on FX rates and paying steep transaction fees. Vinomofo turned to Airwallex’s Business Account and FX & Transfers solutions to find a more efficient approach.

With Airwallex, Vinomofo tested a few transactions and quickly saw over 11% savings on its first FX conversion, plus a reduction in fees that had previously cost $90 per transaction. The company now expects to save tens of thousands of dollars each month and around AU$100,000 or more annually, while also benefiting from same-day payments, fewer manual verification issues, and an easy-to-use platform. Vinomofo plans to expand use of Airwallex across Australia, including Xero integration and virtual cards for SaaS spend.

Vinomofo

Kieran Donovan

Chief Financial Officer