Author: Finextra

fintech funding

Airwallex raises valuation to $2.6 billion on $100 million Series D extension

Fintech payment platform AirWallex has increased its valuation to US$2.6 billion with a capital raising of $100 million in a further Series D extension. The $100 million extension lifts Airwallex’s Series D funding to $300 million. This latest tranche followed its initial Series D round in April 2020 during the pandemic, and a $40 million top-up in September 2020.

The new funding has been led by US-based investment firm Greenoaks, with participation by Australia-based Grok Ventures, Skip Capital and ANZi Ventures. To date, Melbourne-based Airwallex has achieved nearly $500 million in equity funds raised

Jack Zhang, co-founder and CEO at Airwallex says the latest infusion of capital will be used to fuel the company’s global expansion, explore new partnerships and continue with product and engineering innovation.

Airwallex currently has over 600 employees across 12 global offices, and is still looking to fill over 500 open roles.

“This year, we are focused on our global expansion,” says Zhang. “We continue to extend our international footprint, and are bolstering our capabilities through partnerships and new product launches.”

In 2020, Airwallex introduced multi-currency debit cards with Visa, a bank feed integration with Xero, an SMB rewards programme, and online payment acceptance capabilities.

Earlier this month it acquired Hong Kong’s UniCard Solutions, joining the likes of PayPal, AliPay and WeChat as a Stored Value Facilities (SVF) licensee under the territory’s payment regulations.

Source: Finextra

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