Airwallex Raises $100M Series D Extension - Fintech News
Airwallex Secures Additional Funding, Increasing Valuation
Airwallex, a financial technology firm specializing in cross-border transactions, has announced a $100 million extension to its Series D funding round. This latest investment elevates the company’s valuation to $2.6 billion.
Greenoaks spearheaded the extension, with contributions also coming from Grok Ventures, as well as existing investors Skip Capital and ANZi Ventures.
Expansion Plans and New Product Development
According to Jack Zhang, co-founder and CEO, the newly acquired capital will primarily support Airwallex’s entry into the United States market during the second quarter of the current year.
Further expansion of payment services into regions such as the Middle East, Africa, Eastern Europe, and Latin America is also planned.
The funding will also facilitate the development and introduction of additional products, notably including the issuance of physical cards.
Series D and Total Funding
With this extension, Airwallex’s total Series D funding now reaches $300 million. The company’s cumulative equity funding to date amounts to $500 million.
The initial announcement of the Series D round occurred in April 2020, following a $160 million raise. A subsequent tranche added a further $40 million in September 2020.
Growth and Global Presence
Airwallex first achieved a unicorn valuation after completing its Series C funding round in March 2019.
Founded in Melbourne in 2015, Airwallex has grown to employ over 600 individuals across 12 global offices.
These offices are strategically located in Australia, China, Hong Kong, the United Kingdom, Japan, and the United States.
The company is currently actively recruiting, with over 500 positions currently available.
Core Products and Services
Airwallex provides a range of solutions designed for businesses engaged in international commerce.
These include foreign currency accounts and multi-currency debit cards issued through Visa.
The company also offers international money transfer services and a comprehensive suite of APIs.
These APIs enable businesses to efficiently manage international payments, accept payments from various sources, and mitigate foreign exchange risks.