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July 4, 2018

Payments platform Airwallex raises $80m in funding

Payments firm Airwallex has raised an additional $80m in a Series B funding round, taking its total funding to $102m.

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  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
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The funding round saw the participation of Series A investors Tencent and Sequoia China along with China’s Hillhouse, Hong Kong’s Horizons Ventures, Indonesia’s Central Capital Ventura (BCA) and Australia’s Square Peg.

Airwallex plans to utilise the new capital to expand operations across the globe and speed up the production of its cross-border payment technology.

The company will also allocate a portion of the funds to promote financial inclusion for SMEs in Hong Kong, where it plans to apply for a virtual banking licence. Furthermore, the funding is expected to support the company’s growth in the UK.

Airwallex COO and co-founder Lucy Liu said: “Airwallex has identified that businesses in all corners of the world are experiencing similar challenges as the pace and connectivity of a digitalised global economy continues to gain momentum.

“By offering full end to end solutions – not just in FX and payments – we’re changing the way our clients thrive in the global arena.”

The Airwallex platform utilises latest FX and payment engine with a transparent pricing model to conduct thousands of transactions every second. By offering a cost-effective alternative to existing payment networks, it aims to cater to businesses that intend to automate international payment workflows.

 

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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