Airwallex has raised $200 million in an oversubscribed Series E funding round that values the fintech payments platform at $4 billion.
The round – which comes just six months after a Series D extension at a $2.6 billion valuation – was led by Lone Pine Capital and joined by G Squared, Vetamer Capital, 1835i Ventures, DST Global, Salesforce Ventures and Sequoia Capital China.
Airwallex has seen year-over-year revenue growth of nearly 150% for the first half of 2021, processing more than $20 billion for a global client portfolio that has quadrupled in size. The company has nearly doubled its headcount in 2021 and employs almost 1000 employees today.
The funding will support plans for global expansion, product development, and to grow sales and commercial teams and increase its breadth of offerings for SMEs and larger enterprises operating in the digital economy.
Jack Zhang, CEO, Airwalex, says: “From the start, our vision has been to build a global financial operating system that will allow modern businesses to operate without borders. This additional capital enables us to scale our presence in North America, UK, Europe and other new markets including the Middle East, South America and Southeast Asia, and become a dominant leader in global payments.”