Key Stats

Name: Zai (merger of Assembly Payments and Currency Fair)

Sector: Payments

Assembly Founders: Simon Lee, Darren McMurtrie, Simon Jones

Zai CEO: Paul Byrne

Year of investment: 2014, 2015

Rounds: Seed, Series A, Series B

Co-investors: Standard Chartered, Cultivation Capital, Rampersand Capital, Carsales.com.au

What they do

Zai was born from the April 2021 merger of Assembly Payments and CurrencyFair, with a mission to boldly transform the future of financial services and power customers by making innovative financial services accessible to all.

Assembly Payments, founded in 2013, has been one of the fastest growing fintechs in Australia, with a presence in Singapore, India, Philippines and the US. Specialising in building automated payment workflows, with APIs, to reduce the complexity of running both traditional and digital-native businesses.

CurrencyFair, founded in 2010 and with offices in Ireland, UK, Hong-Kong, Singapore & Australia, is a global cross-border payments fintech that serves individuals and businesses with international payments and currency exchange through its proprietary global platform.

Veteran fintech Assembly Payments rebrands as Zai following CurrencyFair merger

Why we like them

The Zai brand focuses on mid-market and enterprise-level business customers in the world of integrated financial services.

Assembly Payments and CurrencyFair merged to form Zai supported by investment from SC Ventures, the innovation, ventures and fintech investments unit of Standard Chartered which is doubling down on its commitment to the rapidly growing payments industry, following its initial investment in Assembly Payments in 2020.

More from our Portfolio