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October 11, 2022

Airwallex garners $100m in extended Series E round

Australia-based payments outfit Airwallex has secured $100m investment in an extension of its Series E funding round, retaining its $5.5bn valuation.

The firm’s current investors, including Square Peg, Salesforce Ventures, Sequoia Capital China, Lone Pine Capital, Tencent and 1835i Ventures took part in the fundraise.

Australian industry superannuation fund HostPlus and an unnamed North American pension fund also joined the round.

The fresh infusion increased Airwallex’s total capital raised so far to over $900m.

It will help the company expand its presence across the globe.

Airwallex co-founder and CEO Jack Zhang said: “The valuation underscores investors’ confidence in Airwallex’s core business value and fundamentals, and we are fortunate to have the continued support of our existing investors, and the confidence of new investors, as we pursue our vision to become the global economic infrastructure for modern businesses.

“The market environment remains challenging in the foreseeable future, and while we remain well capitalised, this additional runway allows us to continue our growth plans, product expansion, and hire some of the best talents in the world.

“By strengthening the breadth of our global reach and product offering, we can better empower our customers to unlock new market opportunities.”

Last year, Airwallex ramped up its global expansion drive with the launch of its services in China, US and the UK, three key e-commerce markets.

In June this year, Airwallex expanded its global payment services to New Zealand.

The expansion enabled businesses in the country to use various Airwallex solutions, such as international collections and multi-currency wallets, in over 11 currencies.

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