M-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?