Airwallex, a Melbourne based cross-border fintech company, announced on 24th March 2021 that it has raised US $ 100 in what was seen as an extension of its Series D round. The round was led by Greenoaks Capital along with participation from Grok Ventures, ANZi Ventures and Skip Capital.
Investors: Greenoaks Capital is a California, United States, based global investment firm that was founded in the year 2012 by Neil Mehta. It is focused on investing in promising technology companies in the early stage of their growth. Its portfolio includes leading companies such as Discord, Deliveroo, Checkout.com, Stripe and more.
“We believe Airwallex is building a powerful global payments business, with a rich product suite that helps companies simplify their financial infrastructure as they scale globally. From its origins in Australia, Airwallex chose to build global products from day one and has developed a deep understanding of emerging payment technologies. We look forward to supporting the company as it extends their global reach”—Patrick Backhouse, partner at Greenoaks Capital.
Purpose of investments: Airwallex had conducted its initial Series D round in April 2020, which was then continued by its first Series D extension in September 2020. The current extension of its Series D round brings its total funds raised to around US $ 300 million in Series D alone and the latest valuation to around US $ 2.6 billion. The funds will be utilized to further expedite its global expansion, explore new partnerships and continue working on its product and engineering innovation.
Airwallex was founded in the year 2015 by Jack Zhang, Jacob Dai, Max Li and Lucy Yueting Liu. Its core product is a global financial infrastructure that enables organisations to grow beyond borders in a seamless and hindrance free manner.
It enables organisations to manage their international payments, treasury and expenses without the constraints seen in traditional financial systems.
What the CEO has to say:
‘The world will only become more digital, and with more businesses than ever now operating online, Airwallex has proudly been at the centre of this evolution. The additional investment is a vote of confidence in the global financial infrastructure we have built, as we look to empower businesses to grow without borders.”—Jack Zhang, co-founder and CEO of Airwallex.
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