ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
DealStreetAsia

Fintech unicorn Airwallex hits $4bn valuation after raising $200m

Hong Kong-based company wants to expand its global operations

Airwallex, which offers a global fintech payment platform, has over 1,000 employees in 20 offices around the world.   © Reuters

CEBU, Philippines -- Airwallex, a Hong Kong-headquartered global payments unicorn, announced raising $200 million in an oversubscribed Series E funding round led by US-based investment manager Lone Pine Capital.

The company said the latest funding round brings its total funds raised to date to more than $700 million and raised its valuation to $4 billion. Airwallex raised $300 million in its Series D funding round that was completed in March.

G Squared and Vetamer Capital also joined as new investors, while existing investors, including 1835i Ventures, DST Global, Salesforce Ventures and Sequoia Capital China, participated in the funding round.

Airwallex was founded in Melbourne in 2015 by Chinese entrepreneur Jack Zhang, along with co-founders Lucy Liu, Jacob Dai and Max Li, before moving its headquarters to Hong Kong in 2018.

The firm offers a global fintech payment platform that helps businesses manage payments, treasury and expenses internationally, without the constraints of the traditional financial system.

It operates a team of over 1,000 employees across 20 global offices and is looking to fill hundreds of open roles.

Airwallex said the new investment will support its global expansion and boost its product development initiatives across five engineering hubs, among others.

The additional capital will also enable the company to scale its presence in North America, the U.K., Europe and other new markets, including the Middle East, South America and Southeast Asia, said Zhang, co-founder and CEO of Airwallex.

The Series E funding round also comes as Airwallex secured a money services business license from Malaysia's central bank, Bank Negara Malaysia. The license will allow the fintech unicorn to offer international payment solutions for Malaysian businesses of all sizes from early 2022.

The new license also marks Airwallex's entry into Southeast Asia, a market that has been in the company's expansion plans. Malaysia now joins Airwallex's key markets that include Australia, the U.K., the European Union, the U.S. and Hong Kong.

The company recorded year-over-year revenue growth of 150% for the first half of 2021 and processed more than $20 billion for a global client portfolio that has quadrupled in size.

For the original story from DealStreetAsia, click here.

DealStreetAsia is a financial news site based in Singapore that focuses on private equity, venture capital and corporate investment activity in Asia, especially Southeast Asia, India and greater China. Nikkei owns a majority stake in the company.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more