Airwallex Raises $100 Million in Series D Extension at $2.6 Billion Valuation

Payments platform Airwallex has raised an additional $100 million in an extension of its Series D funding round that brings the total to $300 million. Airwallex was valued at $2.6 billion in the round. To date, Airwallex reports having raised almost $500 million in equity capital.  Airwallex became a unicorn in 2019 during its Series C round.

This latest round was led by Greenoaks, a US-based global investment firm. Australia-based Grok Ventures, Skip Capital and ANZi Ventures have also participated in the round.

Jack Zhang, co-founder and CEO at Airwallex, said that the world will only become more digital and Airwallex has been at the centre of this evolution:

“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. 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. We look forward to their support as we forge ahead on our journey to become a global financial cloud.”

Last year, Airwallex expanded its suite of products and services, including multi-currency debit cards with Visa, a bank feed integration with Xero, an SMB rewards program, and online payment acceptance capabilities.

Airwallex says it recently refreshed its company values, accelerated its hiring and talent retention strategies to deliver Airwallex’s vision. Today, Airwallex has over 600 employees across 12 global offices.

Patrick Backhouse at Greenoaks said they believe Airwallex is building a powerful global payments business:

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

Jeremy Kwong-Law, CEO & CIO at Grok Ventures added:

“It is so impressive to see Airwallex’s relentless pursuit of rewiring clunky financial infrastructure and turning that into a simple and delightful product experience for their customers. We are excited about the huge potential this team can deliver in the years ahead.”

 

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