Australian-Hong Kong fintech startup, Airwallex, has landed a $3 million USD Pre-A funding round led by Gobi Partners, a Chinese investment fund manager that oversees Alibaba’s Hong Kong innovation fund, among other projects.

The round was also joined by Gravity VC, Huashan Capital One and Billy Tam, who is the CEO of Chinese payment company PAYECO, Airwallex announced on Tuesday.

The peer-to-peer startup, which is currently still in beta mode, says they are able to mitigate bank margins and currency inflation risks by allowing businesses to issue and invoices in their preferred currency at a mid-market rate using the company’s algorithmic engine.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com