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Payments General

Airwallex receives USD 100 mln following Series C fundraising

Wednesday 27 March 2019 | 09:45 AM CET

Hong Kong-based fintech startup Airwallex has received a Series C fundraising round of USD 100 mln, valuing the company at over USD 1 bln USD.

Airwallex’s Series C fundraising was led by DST Global, which has previously backed internet giants Facebook, Airbnb and Spotify, and fintech Robinhood. The new capital will be used to expand Airwallex’s suite of international collection and payment products, and to support global expansion into the US, UK / Europe and Southeast Asia.

Alongside investor DST Global, participants from Airwallex’s previous rounds returned for the Series C fundraising, including Sequoia Capital China, Tencent, Hillhouse Capital, Gobi Partners, Horizons Ventures, and Square Peg Capital.

The Airwallex platform is powered by foreign exchange (FX) and payment engines, which connect existing financial infrastructure and local clearing networks to provide an end-to-end solution. In addition to this, Airwallex offers its customers a platform-independent suite of application programming interfaces (APIs) which can integrate into customer’s existing finance or enterprise resource planning (ERP) systems, enabling streamlined international transactions.

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