Airwallex raises $300m series F

Singapore-based financial platform Airwallex has raised US$300 million in its series F funding round, achieving a valuation of US$6.2 billion.

This round includes US$150 million in secondary share transfers and increases the company’s total funding to over US$1.2 billion.

Investors in this funding round include Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, and Visa Ventures, as well as several Australian pension funds.

The newly raised capital will support Airwallex’s plans to expand its global financial infrastructure into markets including Japan, South Korea, the United Arab Emirates, and Latin America.

As of March 2025, the company reported US$720 million in annualized revenue, reflecting a 90% increase year-over-year.

Airwallex expects to reach US$1 billion in annualized revenue by the end of 2025. Its customer base grew by 50% in 2024, now serving 150,000 businesses worldwide.

🔗 Source: Airwallex

🧠 Food for thought

1️⃣ From coffee shop problem to fintech unicorn: a rapid ascent

Airwallex’s origin story highlights how solving personal pain points can lead to market-transforming businesses. Co-founders Jack Zhang and Max Li initially ran a coffee shop in Melbourne before pivoting to fintech after experiencing frustration with high foreign exchange fees when importing supplies 1.

They invested $1 million of their own savings to launch the company in 2015, focusing specifically on reducing cross-border payment costs for businesses 1 2.

The company achieved unicorn status with a $1 billion valuation in just three years, a record for Australia at the time, and has now reached a $6.2 billion valuation with this latest funding round 1 3.

This trajectory illustrates the significant market demand for more efficient cross-border payment solutions, with Airwallex now processing over $130 billion in global payments volume and approaching $1 billion in annual revenue 3.

Their growth has been particularly notable in newer markets, with gross profit growing at a CAGR of more than 250% in both Americas and Europe over the past four years, demonstrating the global nature of the problem they’re solving.

2️⃣ Building a parallel financial infrastructure focused on speed

Airwallex’s approach goes beyond creating a payment app. They have built an entirely new financial infrastructure designed specifically for cross-border commerce.