Airwallex Secures $100 Million in Additional Series E1 Round
The financial technology platform, Airwallex today announced that the company has raised an additional $100 million in the Series E1 investment round. With that, the total Series E funding of Airwallex reached $300 million.
With an aim to increase its global presence, Airwallex raised a total of $800 million to date. The current valuation of Airwallex stands at around $5.5 billion. On the back of strong financial performance, Airwallex received funding from some of the leading names in the global VC ecosystem.
The recent funding round was led by Lone Pine Capital. Existing investors including 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China also participated in the Series E1 financing. The raise follows the company’s substantial performance in Q3.
In the third quarter of 2021, Airwallex reported a jump of 165% (YoY) in revenues. Moreover, the annualized revenue of Airwallex crossed $100 million. The fintech platform also added more than 200 people recently to enhance its global presence.
“Our record performance last quarter demonstrates the tremendous demand from customers who are seeking better solutions to operate their businesses,” said Jack Zhang, Co-founder, and CEO of Airwallex. “As we approach our sixth anniversary, we want to continue to connect entrepreneurs, business builders, and makers with opportunities in every corner of the world. This new capital injection will allow us to do just that, fuelling M&A opportunities that will accelerate our global expansion plans, pursuing our mission to empower businesses to grow without borders.”
Highlighting its recent initiatives to expand global reach, the fintech firm added that the company has scaled its business across APAC and MENA. Additionally, Airwallex introduced its virtual employee cards in Hong Kong and the UK.
“Airwallex’s achievements in the last quarter alone showcase the strength of the company’s business model and its unique ability to meet their customers’ evolving needs in a competitive digital payments market,” said David Craver, Co-Chief Investment Officer at Lone Pine Capital.
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