Airwallex maintains $5.5 billion valuation with $100 million Series E extension
SAN FRANCISCO–(BUSINESS WIRE)–Airwallex, a leading global fintech platform, today announced that it recently closed its Series E (“Series E2”) extension at the same $5.5 billion valuation. U.S., and secured more funding from existing investors Square Peg, Salesforce Ventures, Sequoia Capital China, Lone Pine Capital, Hermitage Capital, 1835i Ventures, and Tencent. HostPlus, an Australian industry pension fund, as well as a major North American pension fund also participated in this round. With an additional US$100 million, Airwallex’s total funding has grown to over US$900 million to propel the company’s global growth trajectory.
“The valuation underscores investor confidence in the value and fundamentals of Airwallex’s core business, 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,” said Jack Zhang, co-founder and CEO of Airwallex. “The market environment remains challenging for the foreseeable future, and while we remain well capitalized, this additional avenue allows us to pursue our growth plans, expand our products and hire some of the best talent 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.
The Melbourne-based company accelerated its international expansion in 2021, successfully extending its reach across Europe, North America and Asia-Pacific, serving three of the largest e-commerce markets in the world: China , the United States and the United Kingdom. Today, tens of thousands of modern businesses leverage Airwallex’s global payments and banking platform to process payments and transfer money efficiently anywhere in the world.
“We are building one of the most powerful global payment and banking infrastructures in the world”, Jack adds. “By providing a faster, safer, more transparent and more efficient way to operate globally, we enable businesses to maximize revenue and accelerate growth.”
Airwallex continued to see its business grow and reach new heights, with its customer base more than doubling and revenue growing 184% year-on-year1. Several new products and services are also planned in its 2022-23 roadmap, including enhancements to its expense management platform and a credit solution, as the company continues to invest in product innovation in addition to market expansion and talent acquisition.
Airwallex is the leading fintech platform for modern businesses growing across borders. With one of the most powerful payment and banking infrastructures in the world, our technology enables businesses of all sizes to accept payments, transfer money around the world and simplify their financial operations, all on a single platform.
Founded in 2015 in Melbourne, our goal is to connect entrepreneurs, business builders, makers and creators with opportunities in every corner of the world. Today, Airwallex has a global presence in Asia-Pacific, Europe and North America. Learn more at www.airwallex.com.
1 Customer base and revenue reflect Q2 2022 year-over-year results