Funding Remittance

Airwallex’s Closes US$ 200 Million Fundraising Round for Global Expansion

Airwallex, a cross border payment company, announced that the company has closed its extended Series D fundraising with an additional US$40 million from new and existing investors.

This builds on the Hong Kong-based fintech unicorn’s US$160 milion Series D round announced in April 2020, bringing its total Series D funding to US$200 million and total equity funding raised to date to over US$400 million.

The additional funds raised will enable Airwallex to invest in the continual build of its product suite, to strengthen its existing footprint in key regions such as Asia Pacific and UK/Europe, and to expand its global payment coverage to include additional regions such as the Middle East, Eastern Europe and Africa. Airwallex is currently laying the groundwork for its market entry in the US in Q1 2021.

In 2020, Airwallex reported over a 50% increase in its global customer base and over a 100% increase in net revenue in Q3 2020 (versus Q2 2020), particularly in the ecommerce, digital, tech and logistics sectors.

To meet the growing and evolving needs of its customers, Airwallex launched virtual multi-currency debit cards with Visa, a bank feed integration with Xero, a rewards program, and card payment acceptance capabilities.

Airwallex has also been actively recruiting to help drive its ambitious international expansion goals, hiring more than 140 staff in the first half of the year, and is still looking to fill over 100 open roles across its global offices.

Jack Zhang, CEO and Co-founder of Airwallex, said on the announcement,

Jack Zhang

“To support business growth in this new digital era, Airwallex has invested heavily over the past few years in building a global digital infrastructure and an extensive suite of products that enable businesses to efficiently move and manage their money across borders. Our most significant fundraising round to date, in conjunction with our constant drive for innovation and the foresight to adapt to the evolving world, sets Airwallex up with a solid foundation for the years ahead.”

Featured image: Jack Zhang, CEO and Co-founder of Airwallex