Airwallex, an Australian born global fintech platform provider, raised an additional US$100m in a Series E1 financing round, which valued the company at US$5.5 billion.
This round, which takes Airwallex’s total Series E funding to US$300m, with US$802m raised in total, was led by Lone Pine Capital with participation from 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China.
The company intends to use the funds to accelerate its global expansion plans.
This latest raise follows a strong third-quarter performance, where the company recorded a 165% YoY revenue increase, with annualised revenue exceeding US$100 million. The company also made more than 200 additional hires as Airwallex continues to strengthen its presence in its core markets globally.
Led by Jack Zhang, Co-founder and CEO, Airwallex is a global payments platform empowering businesses of all sizes to manage online payments, treasury and payout globally. Today, the business operates with a team of over 1,000 employees across 19 locations globally. In the last quarter, Airwallex continued to scale its business across APAC and EMEA, while also growing in the U.S. The company launched its virtual employee cards in Hong Kong and the UK, marked its entry into Southeast Asia with licences in Singapore and Malaysia, and continued to onboard new global customers.