Airwallex, a San Francisco CA and Melbourne, Australia-based fintech platform, raised US$200M in Series E funding.
The round was led by Lone Pine Capital with participation from G Squared and Vetamer Capital, 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China.
The company, which has achieved more than US$700m in equity funds raised to date and is now valued at US$4 billion, intends to use the funds to accelerate global expansion and the development of new products and services across its five engineering hubs, grow its sales and commercial teams and increase its breadth of offerings for SMEs and larger enterprises operating in the digital economy.
Led by Jack Zhang, CEO, Airwallex provides a payment platform for businesses of all sizes to grow without borders, manage online payments, treasury and payout globally.
The company has seen significant business growth in the last year, recording a year-over-year revenue growth of nearly 150% for the first half of 2021, and processing more than US$20 billion for a global client portfolio that has quadrupled in size, serving innovative global businesses such as GOAT, Papaya Global and Stake.
The company has nearly doubled its headcount in 2021 and employs almost 1,000 employees today in over 20 locations globally. This year, Airwallex launched a series of new products and reached major milestones with its global expansion plans, opening for business in the U.S. last month, as well as securing an EMI license in the Netherlands and a Money Services Business license in Malaysia.