Aussie fintech Airwallex secures $200m Series E funding at $4bn valuation
Australian cross-border payments platform Airwallex has raised $200 million in a Series E funding round.
The new injection, led by Lone Pine Capital, follows a Series D fundraise in March and brings the company’s valuation up to $4 billion, with more than $700 million in capital raised to date.
The Series E saw investment from new investors G Squared and Vetamer Capital alongside existing investors Salesforce Ventures and Sequoia Capital China, among others.
The new investment will support Airwallex’s global expansion and product development initiatives across its five engineering hubs in San Francisco, Melbourne, Sydney, Shanghai and Amsterdam.
Airwallex CEO and co-founder Jack Zhang says the new funds will enable his firm “to scale our presence in North America, UK, Europe and other new markets including the Middle East, South America and Southeast Asia”.
The company launched its services in the US in August through a partnership with domestic finserv and Banking-as-a-Service (BaaS) provider Evolve Bank & Trust.
The cash will also help the fintech grow its sales and commercial teams and increase its offerings for SMEs and larger enterprises across the digital economy.
The cross-border payments platform provides international collection and transfer services for small and medium-sized businesses, and an API for larger enterprise businesses that require embedded payments and financial services.