Airwallex, a FinTech who provide infrastructure for cross-border payments, has reached a $2.6 billion valuation in its latest funding round.

The Melbourne based FinTech raised $100 million in a round led by US-based Greenoaks, with participation from Australia’s Grok Ventures, Skip Capital and ANZi Ventures, alongside other existing investors.

This brings the FinTech’s total Series D funding to $300 million, and its total funding to date to almost $500 million.

Airwallex’s products and services include a multi-currency debit card in partnership with Visa, a bank feed integration with accounting software firm Xero, and online payment acceptance capabilities.

The FinTech said the latest funding will be used to accelerate its global expansion, explore new partnerships, and for research and development.

Airwallex, founded in 2015, first reached unicorn status with a $1 billion valuation after a $100 million Series C funding round in March 2019.

The company now boasts 600 employees in 12 offices in Australia, China, Hong Kong, the United Kingdom, Japan, and the United States.

In addition, Airwallex said it is hiring for more than 500 positions.

“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,” said Jack Zhang, co-founder and chief executive at Airwallex. “The additional investment is a vote of confidence in the global financial infrastructure we have built, as we look to empower businesses to grow without borders.”

Patrick Backhouse, partner at Greenoaks, said: “We believe Airwallex is building a powerful global payments business, with a rich product suite that helps companies simplify their financial infrastructure as they scale globally.”

“From its origins in Australia, Airwallex chose to build global products from day one, and has developed a deep understanding of emerging payment technologies.”
He added: “We look forward to supporting the company as it extends their global reach.”

Share Story: