Airwallex Joins Hong Kong’s Fintech Unicorn Club

Airwallex Joins Hong Kong’s Fintech Unicorn Club

by March 26, 2019

Airwallex, a cross border payment company announced today that they have closed Series C fund raising at $US 100 million.

The round brings Airwallex’s total capital raised to over US$200 million.  With that Airwallex is now valued at over $US 1 billion, confirming its position as a newly minted fintech unicorn alongside 9 other fintech unicorns in Asia.

Headquartered in Hong Kong and founded in Melbourne the cross-border payments company has an illustrious list of clientele which includes the likes of, Tencent and Mastercard.

Its meteoric rise from an emerging challenger to a fintech unicorn in three year is definitely an impressive feat, which validates our earlier decision to recognise the company among the top 20 fintech startups in Hong Kong.

Airwallex will be using the funds to fuel global expansion and continue product development with an emphasis of delivering further value to marketplace, online sellers, and SMEs.

The fund raising round was lead by DST Global, who is best known as a primary investor for global technology success stories that includes Facebook, Airbnb and Spotify. On the fintech front DST has also invested into iconic fintech companies like Nubank and Robinhood.

Alongside new investor DST Global, existing participants from Airwallex’s previous rounds returned for the Series C fundraising, including Sequoia Capital China, Tencent, Hillhouse Capital, Gobi Partners, Horizons Ventures and Square Peg Capital.

Image Credit: Square Peg’s Medium Page