Visa in Talks to Invest in Fintech Startup Airwallex
- 22.07.2022 12:05 pm
Sources told Bloomberg that Airwallex’s goal is to raise $100 million to $150 million in an extension for its Series E round, per a report Wednesday (July 20).
Airwallex provides cross-border end-to-end payments and collections solutions for customers. FinTech, which has raised around $800 million thus far, is also reportedly considering an initial public offering (IPO) that could come as soon as 2024.
The discussions with Visa are still happening, and there’s no agreement reported as of press time. A Visa spokesperson told PYMNTS the company is not a current investor in Airwallex but did not comment further.
Bloomberg noted that the company has already raised $100 million in a previous round in November, from investors that included Lone Pine Capital and Sequoia Capital China. At that time, its total fundraising round hit around $300 million, and its total value at the time was $5.5 billion.
The extension round is purported to value Airwallex at the same level, but there are no final decisions made yet, and the details may change later. Airwallex did not reply to a request for comment at press time.
PYMNTS reported last month that Airwallex also recently rolled out global payment options for New Zealand, providing businesses with international collections, multi-currency wallets and local payouts for over 30 currencies.
The rollout also aims to give businesses a better, cheaper and quicker alternative to legacy financial institutions’ programs, the company said.
Airwallex said businesses would soon have access to the full Airwallex suite as it’s rolled out over time, including corporate and employee cards in multiple currencies, spend management and online payment capabilities.
“Our entry into the New Zealand market is something our customers have been requesting for some time; businesses tell us they have been deterred from reaching their full potential in this market due to the complexity of making international payments or trading across borders,” Sam Kothari, head of growth for Airwallex ANZ, said at the time. “By providing local businesses with a single global financial platform, we aim to empower them to scale successfully, which is especially critical in this current economic environment.”