Fintech platform Airwallex raises $100m funding at $5.5bn valuation

Airwallex has raised $100m in a Series E extension funding round that valued the Australian fintech company at $5.5bn.

With the latest funding, the Melbourne-founded financial technology company has raised a total of $900 million to boost its global expansion plans.

The financing round saw participation from existing investors Square Peg, Sequoia Capital China, Salesforce Ventures, Lone Pine Capital, 1835i Ventures, Hermitage Capital, and Tencent.

Australian industry superannuation fund HostPlus has also taken part in the Airwallex funding round.

Jack Zhang — Airwallex co-founder and CEO said: “The valuation underscores investors’ confidence in Airwallex’s core business value and fundamentals, and we are fortunate to have the continued support of our existing investors, and the confidence of new investors, as we pursue our vision to become the global economic infrastructure for modern businesses.

“The market environment remains challenging in the foreseeable future, and while we remain well capitalized, this additional runway allows us to continue our growth plans, product expansion, and hire some of the best talents in the world.

“By strengthening the breadth of our global reach and product offering, we can better empower our customers to unlock new market opportunities.”

In 2021, Airwallex expedited its global expansion, extending its presence across Europe, North America, and the Asia Pacific.

The expansion has made the Australian fintech company to serve three of the largest e-commerce markets in the world consisting of China, the US, and the UK.

The global payments and banking platform offered by Airwallex is currently being leveraged by thousands of businesses to process payments and efficiently transfer money anywhere around the world.

Jack Zhang added: “We are building one of the world’s most powerful global payment and banking infrastructure.

“By providing a faster, safe, transparent and more efficient way to operate globally, we are enabling businesses to maximise revenues and accelerate growth.”