Airwallex will use the extra $200 million raised to scale the business globally.
Airwallex has raised another $200 million in a series E round, with the Australian fintech startup now reaching a fund total of over $700 million and a valuation of $4 billion. The majority of the funding came from new investors, including private US-based investment firm Lone Pine Capital, which led the funding round and is the backer of other fintech giants such as PayPal and Square, as well Amazon, Netflix, and Twitter. G square and Vetamer Capital Management also joined the round, alongside existing investors 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures, and Sequoia Capital China. In a statement, Airwallex said it plans to use the additional funds to further its global expansion plans, which entail scaling up its presence globally and growing its sales and commercial teams, and developing new products and services. “From the start, our vision has been to build a global financial operating system that will allow modern businesses to operate without borders,” co-founder and CEO Jack Zhang said.
