Airwallex raises additional $100m in Series E1 led by Lone Pine Capital

Jack Zhang, CEO of Airwallex and Founder of Capital 49

Airwallex, one of the fastest growing and a leading global fintech platform has announced their successful raising of an additional $100 million in a Series E1 funding round.

This new funding raises Airwallex’s valuation to $5.5bn. This comes after Airwallex announced an oversubscribed Series E round as they look to accelerate global expansion plans.

Airwallex attracts unprecedented investor interest

The latest round takes Airwallex’s Series E fundraising to $300m, with $802m raised in total.

Airwallex’s successful Series E1 funding round was again, oversubscribed, coming on the back of strong underlying business performance and growth momentum in the third quarter.

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.

This latest raise follows a strong third-quarter performance, where the company recorded a 165% YoY revenue increase, with annualised revenue exceeding US$100 million.

The company also indulged in recruiting more than two hundred new additional hires so that Airwallex can continue to strengthen its presence in its core markets around the world.

Comments on Airwallex’s Series E1 funding round

Jack Zhang, the Co-founder and Chief Executive Officer of Airwallex welcomed the funding.

“Our record performance experienced in the last quarter demonstrates the tremendous demand from our 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 decision makers with opportunities in every corner of the world.”

“This new capital will allow us to fuel M&A opportunities that will accelerate our global expansion plans in pursuing our mission to empower businesses to grow without borders.”

Airwallex continued to scale across APAC and EMEA, while achieving momentum in the U.S.A.

The company launched its virtual employee cards in Hong Kong and the UK, acquired new licences in Singapore and Malaysia, plus continuing to onboard new customers worldwide.

David Craver, the Co-Chief Investment Officer at Lone Pine Capital offered applause.

“Airwallex’s achievements showcase the strength of the company’s business model and its unique ability to meet customers’ evolving needs in a competitive digital payments market.”

“The future is looking bright for Airwallex and we are eagerly looking forward towards helping the team to unlock greater growth opportunities as it continues to expand globally.”