Tuesday, 21 September 2021 09:16

Airwallex reaches US$4B valuation following latest investment round

By
Airwallex co-founder and CEO Jack Zhang Airwallex co-founder and CEO Jack Zhang

Fintech Airwallex has raised US$200 million in an oversubscribed Series E financing round, giving the company a US$4 billion valuation.

Airwallex's series E, coming just six months after the previous round, was led by Lone Pine Capital.

New investors G Squared and Vetamer Capital Management participated, as did existing investors such as 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China.

"We are excited to welcome Lone Pine Capital and our new Silicon Valley investors. Their wealth of experience, foresight and successful industry track records are a significant validation of our business and global growth strategy," said Airwallex co-founder and CEO Jack Zhang.

"From the start, our vision has been to build a global financial operating system that will allow modern businesses to operate without borders," he added.

"This additional capital enables us to scale our presence in North America, UK, Europe and other new markets including the Middle East, South America and Southeast Asia, and become a dominant leader in global payments."

The funds will also be used to accelerate multiple product development initiatives across its five engineering hubs.

Airwallex nearly doubled its headcount in 2021 to almost 1,000 employees globally.

"Airwallex has a clear competitive advantage in the digital payments market," said Lone Pine Capital managing director David Craver.

"Its unique Asia-Pacific roots, coupled with its innovative infrastructure, products and services, speak volumes about the business' global growth opportunities and its impressive expansion in the competitive payment providers space. We are excited to invest in Airwallex at this dynamic time, and look forward to helping drive the company's expansion and success worldwide."


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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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