Airwallex, a global fintech platforms has announced that it raised US$200 million in an oversubscribed Series E financing round, increasing the company’s valuation to US$4 billion.
This latest investment follows an extended Series D capital raise earlier this year in March, cementing Airwallex’s position as one of the fastest growing unicorns amid an unprecedented business environment affected by COVID.This latest round was led by Lone Pine Capital.
Airwallex attracts unprecedented investor interest
With the Series E, Airwallex has more than US$700 million in equity funds raised to date.
The investment will support Airwallex’s global expansion and enable the company to accelerate multiple product development initiatives across its five engineering hubs.
It will further facilitate them to grow sales and commercial teams, increase its breadth of offerings for SMEs and larger enterprises operating in the digital economy.
“We are excited to welcome Lone Pine Capital and our new Silicon Valley investors.”
“Their wealth of experience, foresight and industry track records are a significant validation of our business and global growth strategy,” said Jack Zhang, Co-founder and CEO at Airwallex.
“From the start, our vision has been to build a global financial operating system that will allow modern businesses to operate without borders,” adds Jack Zhang.
“The capital enables us to scale in North America, UK, Europe and other markets like the Middle East, South America and Asia, and become a dominant leader in global payments.”
Airwallex experiencing exponential growth
Airwallex has seen business growth, recording revenue growth of nearly 150% in 2021.
Airwallex hired more people and employs almost 1,000 employees in over 20 locations.
Airwallex launched a series of new products and reached major milestones this year despite the pandemic with its global expansion plans, opening for business in the U.S., as well as securing an EMI license in the Netherlands and a Money Services Business license in Malaysia.
“Airwallex has a clear competitive advantage in the digital payments market,” said David Craver, Managing Director at Lone Pine Capital.
“Its unique APAC roots, innovative infrastructure, products and services, speak volumes about their global growth opportunities and expansion in the payment providers space.”
“We are extremely excited to invest in Airwallex at this dynamic time, and look forward with optimism to helping drive the company’s expansion and success worldwide.”