Thursday, 16 April 2020 09:38

Airwallex raises US$160 million

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

Melbourne-based fintech Airwallex has closed its series D funding round, raising US$160 million and attracting new investors.

Airwallex's latest funding round is its largest to date, and it attracted new investors including ANZi Ventures (part of ANZ Bank) and Salesforce's investment operation Salesforce Ventures.

Existing investors DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures also participated.

Airwallex has raised more than US$360 million since it was founded in 2015.

The new funds will be used to expand international operations (especially in Europe, the US and the Middle East), to add payment acceptance capabilities through a proprietary gateway and via partner integrations, and to explore possible acquisitions.

Existing moves in these areas include the launch of Airwallex Borderless Cards in partnership with Visa, integration with the Xero cloud accounting system, and an API that allows enterprises to generate and issue payment cards to their networks.

"The global shift to digital is imminent. We envision a world in the not-too-distant future where all businesses will operate and conduct their affairs online - including banking - with the help of modern tools," said Airwallex CEO and co-founder Jack Zhang.

"From the very beginning, our vision has been to lead the transformation of global financial infrastructure. We have stayed true to our vision by building the Airwallex platform with fast and agile technology, continually improving our product and investing in dedicated support teams. More than ever, we are well-positioned to support businesses no matter their size as they adapt to today's changes."

"The commitment and confidence from both new and existing investors in this round is a strong validation of our successes and our strategic vision. With their support, we look forward to accelerating our growth and further empowering businesses across the globe."

ANZi Ventures managing director Ron Spector said "ANZi Ventures is pleased to make a strategic investment in Airwallex, one of Australia's fintech leaders. We look forward to working further with the team to support their vision of building a next-generation digital payments platform for SMBs and enterprises globally."

Salesforce Ventures head of Australia Rob Keith said "Being able to transact and do business with customers all over the world is a key criteria for companies who are going through a digital transformation. We're excited to partner with Airwallex at this critical time in its growth, expanding both its footprint globally and its product capabilities."


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Stephen Withers

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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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