Aditya Hadi Pratama · · 2 min readAirwallex raises $100m, keeps $5.5b valuation
Global fintech platform Airwallex has raised US$100 million in series E2 funding from Square Peg, Sequoia Capital China, and Tencent, among others.
The money was raised at a US$5.5 billion valuation, which remains unchanged from Airwallex’s US$100 million round in November last year. In total, the startup has raised US$900 million since its establishment.
Airwallex CEO and co-founder Jack Zhang / Photo credit: Airwallex
In a statement, Airwallex CEO Jack Zhang said the firm remains “well capitalized” despite the current market conditions.
“This additional runway allows us to continue our growth plans, product expansion, and hire some of the best talents in the world,” he said.
In the second quarter of 2022, the fintech platform’s customer base more than doubled and its revenue surged by almost 3x compared to the same period last year.
Founded in 2015 by Zhang and Max Li, AirWallex’s platform helps businesses worldwide manage online payments, treasury, and payouts. It has a presence in more than 19 countries.
The firm marked its entry into Singapore by launching an expense management solution and a virtual multicurrency Visa business debit card in May. It also rolled out cross-border payment services in Malaysia in April.
See also: Series SEA: Who’s investing in the region’s fintech startups?
Other investors in the funding round include:
- Salesforce Ventures
- Lone Pine Capital
- Hermitage Capital
- 1835i Ventures
- Hostplus, an Australian superannuation fund
Editing by Miguel Cordon and Lorenzo Kyle Subido
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