Airwallex Raises US$100M in Series E Extension


Airwallwex, a Melbourne, Australia-based global fintech platform provider, raised USS$100m in Series E Extension (Series E2) funding at US$5.5 billion valuation.

Backers included Square Peg, Salesforce Ventures, Sequoia Capital China, Lone Pine Capital, Hermitage Capital, 1835i Ventures, Tencent, and HostPlus.

The company, which raised more than US$900m in total funding, intends to use the capital to continue to expand operations and its business reach. Multiple new products and services are being planned in its 2022-23 roadmap including improvements to its expense management platform and a credit solution.

Led by CEO Jack Zhang, Airwallex provides a financial technology platform for modern businesses growing beyond borders. With a payments and banking infrastructure, its technology empowers businesses of all sizes to accept payments, move money globally, and simplify their financial operations, all in one single platform. The company accelerated its international expansion in 2021, extending its reach across Europe, North America and Asia Pacific, serving China, the United States and the United Kingdom. Today, tens of thousands of modern businesses use its global payments and banking platform to process payments and move money efficiently anywhere around the world.