Airwallex closes us$160m in record fundraising round to date, announces worldwide growth plans

Airwallex closes us$160m in record fundraising round to date, announces worldwide growth plans
16.04.2020 07:16 am

Airwallex closes us$160m in record fundraising round to date, announces worldwide growth plans

Financial

A global fintech leader Airwallex today announced that it has closed its Series D fundraising round at US$160M, marking its biggest raise to date. The round includes majority participation from a group of new top-tier global strategic investors, including ANZi Ventures (the corporate venture capital arm of ANZ Bank) and Salesforce Ventures (the global investment arm of Salesforce).

Existing core investors DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures also participated, bringing Airwallex’s total equity raise since it was founded in 2015 to over US$360M.

Airwallex plans to use the new funds to continue its expansion journey by:
● Accelerating worldwide growth through customer acquisition and licensing, particularly in Europe and the US, and new markets such as the Middle East
● Expanding its product line to include payment acceptance capabilities through a proprietary gateway solution as well as partner integration
● Exploring acquisitions in the payments space to fast track offerings

The new funding comes on the heels of a momentous year of growth for Airwallex. After a successful Series C round in March 2019, Airwallex’s global presence has expanded considerably, with new offices in Tokyo, Bangalore, and most recently a presence in Dubai.

Alongside the international expansion, Airwallex has also significantly enhanced its product capabilities, including the launch of Airwallex Borderless Cards in partnership with Visa and a highly-requested integration with Xero.

These new features mark Airwallex’s evolution from an international payments platform to a fully integrated end-to-end financial services provider for businesses of all sizes. The expansion of products available via Airwallex business accounts means SMBs now have access to a host of services that enable high-speed, low-cost payments and collections worldwide, alongside instant AUD, USD, EUR, GBP, HKD and CNY global accounts.

In addition to supporting the growing SMB market, Airwallex has a suite of enterprise products to help larger businesses with more complex financial needs, such as mass international and domestic payouts. Its recently launched Issuing API will further enable enterprises to generate and issue payment cards to their networks, saving them time and money.

Jack Zhang, CEO and Co-founder of Airwallex, said on the fundraising announcement, “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.”

“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.”

Ron Spector, Managing Director of ANZi Ventures said of the funding, “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.”

Rob Keith, Head of Australia, Salesforce Ventures 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."

Related News

Pure Storage Expands FlashBlade, the Industry’s First Native Unified, Fast File and Object Platform

Pure Storage (NYSE: PSTG), the IT pioneer that delivers storage as a service, today announced the availability of Purity//FB 3.0 for FlashBladeTM, the next generation of the... Read more »

Winners of 2020 FIS Impact Awards Showcase Innovation While Giving Back to the Community

FIS™ (NYSE: FIS), a global leader in financial services technology, today announced the winners of the 2020 FIS Impact... Read more »

“Digital Sureties” – Over 30 Italian Organizations Together For The Project Promoted By CeTIF - Cattolica University, SIA And Reply

More than thirty organizations in the insurance, banking and finance, public and business sectors, as well as associations and institutions, including Guardia di Finanza (the... Read more »

SmartSearch rises to 15th in the Sunday Times Profit Track List

Anti-money-laundering pioneers SmartSearch this Sunday achieved 15th position in the Sunday Times Profit Track list. The list... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel