The move brings Airwallex’s Series D funding to $300 million, with $500 million in total overall equity funds raised, the release stated. The current round has been led by Greenoaks, a U.S.-based global investment firm that has backed industry-leading technology firms before, including Deliveroo, Discord, Stripe, Brex and Checkout.com.
In less than two years, Airwallex has almost tripled its valuation after its unicorn status following its Series C from March 2019, according to the release.
With the latest cash infusion, Airwallex will boost its global expansion, explore new partnerships and continue innovating products and engineering, the release stated.
“The world will only become more digital, and with more businesses than ever now operating online, Airwallex has proudly been at the center of this evolution,” said Airwallex Co-Founder and CEO Jack Zhang in the release. “The additional investment is a vote of confidence in the global financial infrastructure we have built, as we look to empower businesses to grow without borders.”
Zhang said in the release that 2021 would be focused on taking the company in a more global direction, with new product launches, partnerships and international initiatives.
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Last year saw Airwallex adding new products, such as multicurrency debit cards with Visa, Xero-fueled bank integration, and online payment acceptance capabilities, the release stated.
Last year, Airwallex linked with i2c to enable its Airwallex Borderless Cards, which will allow for the streamlining of payments to clients and suppliers, PYMNTS reported. The card launched in Australia first and then later in the U.K. and Hong Kong.
The card lets businesses move money faster and convert payments into 10 currencies. It also offers real-time access to every country’s competitive rate using artificial intelligence (AI).
