Airwallex, a Melbourne, Victoria, Australia-based international payments company, secured $6m in funding.
Melbourne-headquartered Square Peg Capital made the investment.
The company, which had raised $13m in a Series A funding round from Tencent Holdings, Sequoia Capital China, and Mastercard, intends to use the funds to further accelerate its international expansion.
Led by Co-Founder and CEO Jack Zhang, Airwallex provides a suite of APIs which allow businesses to process international payments at scale, supporting a combination of payment collection, foreign exchange and local payment distribution.
The company’s platform, powered by an FX and payment engine and a transparent pricing model to avoid inflated margins and minimize market risk, is able to support thousands of transactions per second.
Airwallex was the first Australian startup to join the Mastercard Start Path accelerator program in September 2016.