Airwallex, a Melbourne, Australia-based cross-border payments company, raised US$160m in Series D funding.
The round, which valued the company at $1.8 billion, post-money, and brought total equity raise since it was founded in 2015 to over US$360M, was led by ANZi Ventures and Salesforce Ventures with participation from existing investors DST Global, Tencent, Sequoia Capital China, Hillhouse Capital, and Horizons Ventures.
The company intends to use the funds to continue to accelerate worldwide growth in Europe, the US and new markets, expand its product line to include payment acceptance solutions and explore acquisitions to fast track its offerings.
Led by Jack Zhang, CEO and Co-founder, Airwallex provides a proprietary tech-driven infrastructure to enable low-cost, high-speed and transparent international collections and payments (accessible via API), and a business account and borderless card for businesses to grow both domestically and internationally. The company currently has over 420 employees across 10 international offices (Melbourne, Hong Kong, Shanghai, Shenzhen, Beijing, Singapore, London, San Francisco, Tokyo, and Bangalore).