Airwallex, a leading global payments platform announced plans to establish Capital 49, a new venture capital fund set up by Airwallex founders, that will invest into early stage, high-growth technology-enabled companies powered by Airwallex’s infrastructure.
Why is Airwallex establishing Capital 49?
The fund aims to raise US$200 million through the Airwallex founders and other investors.
It will look to invest among companies within Airwallex’s ecosystem, across a number of industries like e-commerce, SaaS, digital and technology, business enablers, and fintech.
To date, Capital 49 has completed investments in two such fintech firms. “We are so excited to share the news of our new fund,” said Jack Zhang, CEO of Airwallex and Founder of Capital 49.
“As part of the fintech and start-up ecosystem, we have observed that a clear technological advantage is important for a business to stand out from the competition.”
“We are committed to invest and foster the growth of tech-enabled companies, particularly at a time where there is appetite for innovative solutions to enhance business efficiencies.”
Airwallex experiencing exponential growth
Founded in 2015 in Melbourne, Airwallex has grown to become a global fintech platform that is supported by a team of over 800 employees across 12 global offices.
Earlier this year, Airwallex announced an additional capital raise of US$100 million, nearly tripling its valuation to US$2.6 billion in just two years.
Airwallex broadened its suite of products and applications, providing end-to-end solutions for customers across business accounts, expense cards and other customised value-add solutions.
Airwallex launched tools in the rollout of its online payment solution in Hong Kong and Australia and the launch of its Airwallex Borderless Cards for businesses in Hong Kong.
“As an organisation, Airwallex could not have achieved what it has today if not for the players within our ecosystem,” added Zhang.
“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.”