Airwallex raises $100m in latest round of funding

This month, Airwallex secured a payments licence in Singapore and previously it secured licence in Malaysia, the company is on rapid expansion mode.

Australia based cross-border payments company, Airwallex has announced that it has raised additional $100 million in series E1 funding round. With this latest round of funding, the company is now valued at $5.5 billion. The total funds raised in series E comes to $300 million taking total funding to $800 million.

Recently, it partnered with Stake on cross-border payments and also expanded its operations in North America.

As per the press note, Lone Pine Capital remained the lead for this round of funding alongside investors including 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China.

“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.” said Jack Zhang, Co-founder and CEO of Airwallex.

With this funding, VCs this year have poured over $5.38 billion into commercial payments firms with the previous funding going to Plate IQ with $160 million.