Airwallex, a cross-border payments firm, recently revealed its plans to form a new venture capital fund that is set up by its founders. The Capital 49 fund will aim to make investments into early-stage, high-growth tech-enabled companies that will be supported by Airwallex’s infrastructure.
The newly-introduced fund intends to acquire $200 million through Airwallex’s founders and other investors, and will be seeking strategic opportunities to invest across several different industries including digital commerce, software-as-a-service or SaaS, digital and technology, business services and enablers, and Fintech platforms.
Capital 49 has placed investments into two unnamed Fintech companies, the announcement noted.
Established in 2015 in Melbourne and based in Hong Kong, Airwallex has expanded its business operations to become a global Fintech platform that is being supported by a professional team of more than 800 workers across 12 global offices.
Recently, Airwallex announced an additional raise of $100 million, which almost tripled the firm’s valuation to $2.6 billion in just 2 years.
Jack Zhang, Co-founder and CEO at Airwallex and Founder at Capital 49, stated:
“As an organization, Airwallex could not have achieved what it has today if not for the players within our ecosystem. With this fund, we will continue to empower businesses to grow without borders by providing them access to capital, a global network and deep insights and expertise, while ensuring we continue to generate financial returns for our investors.”
As noted in a release, Airwallex also continues to broaden its suite of products and applications, offering comprehensive solutions for customers across business accounts, expense cards, and other customized value-add solutions.
Airwallex has also announced a suite of new product solutions, which includes the rollout of its online payment solution in Hong Kong and Australia, “as well as the launch of its Airwallex Borderless Cards for businesses in Hong Kong.”
As reported in May 2021, Airwallex announced the launch of its online card payment acceptance solution in Hong Kong. According to Airwallex, the solution will allow local merchants to accept online card payments made around the world using Visa and Mastercard.