Airwallex has raised an additional $100 million at a $5.5 billion valuation, according to a note from the company. The funding was an “E1” round and part of a wider $300 million Series E raise.
Airwallex says the Series E1 round was oversubscribed, on the back of strong underlying business performance where the company recorded a 165% YoY revenue increase and annualized revenue in excess of $100 million
Lone Pine Capital remained the lead for this financing, alongside other existing investors including 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China.
Airwallex is a global payments platform that helps businesses manage online payments, treasury and payout globally. Airwallex has secured over US$800 million since it was established in 2015.
Jack Zhang, co-founder and CEO of Airwallex
“Our record performance last quarter demonstrates the tremendous demand from customers who are seeking better solutions to operate their businesses. As we approach our sixth anniversary, we want to continue to connect entrepreneurs, business builders, and makers with opportunities in every corner of the world. This new capital injection will allow us to do just that, fuelling M&A opportunities that will accelerate our global expansion plans, pursuing our mission to empower businesses to grow without borders.”
Airwallex says it is scaling its operations across APAC and EMEA, while gaining ground in the U.S.
David Craver, co-Chief Investment Officer at Lone Pine Capital, said Airwallex’s accomplishments last quarter are indicative of the strength of the company:
“The future is bright for Airwallex, and we look forward to helping its team unlock greater growth opportunities as it continues to expand globally.”