Payment firm Airwallex closes a $100m Series D round at $2.6bn valuation

Melbourne-based cross-border FinTech Airwallex raised another $100m in an extension to its Series D round.

The firm’s latest funding round, which brings its valuation to $2.6bn, was led by US-based investment firm Greenoaks, with participation also coming from Grok Ventures, Skip Capital and ANZi Ventures.

The company intends to use the funds to explore new partnerships and continue to further its product and engineering innovation. To add on, it also aims to hold its United States launch this year, expand its payment coverage to new regions and add more products including physical cards.

This latest cash injection brings Airwallex’s Series D round to $300m, with total equity raised to $500m. The FinTech firm initially raised $160m when it announced the Series D in April last year after, which it added $40m in September that year.

Airwallex achieved unicorn status after its Series C in March 2019, after which it has nearly tripled its valuation.

The firm aims to smoothen international business with its suite of products including foreign currency accounts and multi-currency debit cards with Visa, international money transfers and a suite of APIs that allow companies to receive and manage international payments as well as manage their foreign exchange risk.

Commenting on the company’s future plans, Airwallex co-founder and CEO Jack Zhang said, “This year, we are focused on our global expansion. We continue to extend our international footprint and are bolstering our capabilities through partnerships and new product launches. Strengthening our investor base with the addition of Greenoaks will also help us accelerate that progress.

“The world will only become more digital, and with more businesses than ever now operating online, Airwallex has proudly been at the centre of this evolution.”

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