Airwallex, a Melbourne-born fintech that named cross-border payments, raised $300 million in the Series F round, pushing its valuation to $6.2 billion. The round includes sales of $150 million in secondary shares, including several heavy hitters, including Visa Venture, Salesforce Venture, Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree and several large Australian pension funds.
Both the Visa and MasterCard are available on the cap table. This is a rare show of alignment between two paying giants, usually competitors.
Airwallex raises a $300 million Series F and valuates $6.2 billion to accelerate global expansion
The new funding will help Airwallex expand to many of Japan, Korea, the UAE and Latin America. It also supports to-market teams in North America, Europe and Southeast Asia.
The funding comes less than a year after Tencent-backed Airwallex reached $500 million annual revenue drive fees driven by strong North America and Europe.
Founded in 2015 by Jack Zhang, Airwallex started as a cross-border payment provider, but has grown into a global financial platform with customers from over 150 countries. We currently offer everything from global business accounts and multiculency cards to embedded finance APIs. The company says it is well on track to win a 90% year-on-year jump, up from $720 million this year, with an annual revenue of over $1 billion this year.
Airwallex currently serves more than 150,000 companies, including celebrities such as Brex, Bill, Deel, Rippling, Navan, Qantas. Our customer base grew 50% in 2024 alone.
Jack Zhang, co-founder and CEO of Airwallex, has not been holding back the company’s ambitions.
“The global financial system is not built for today’s borderless economy. Too many companies are being slow, expensive, fragmented legacy infrastructure restrained. Airwallex is building a new foundation for a global economy.
Much of the recent growth comes from the US and Europe, with the company reporting a four-year CAGR of over 250% of its gross profit. Airwallex recently moved to its permanent US headquarters in San Francisco, opening offices in New York and Toronto, expanding its operations across Latin America, including a short-term launch of services in Brazil and the final stage of acquiring Mexican payments company Mexpago.
It is also moving in Europe and the Middle East. The company opened new offices in Paris, added leadership recruitment in London and Amsterdam, and hired the first staff in the UAE. Israel is also seeing growth.
Beyond growth, the company focuses on improving its financial infrastructure. Airwallex is directly integrated with local clearing systems and card networks in over 60 countries. This allows customers to send and receive funds to over 150 countries. 68% of these transactions are processed immediately, with 95% arriving within a few hours.
Platforms aren’t just about moving money. Companies use Airwallex to manage their accounts, accept payments in local currency, issue cards to employees, and use APIs to integrate financial services directly into their products.
The company currently employs more than 1,700 people in 26 offices around the world and is headquartered in Singapore. This latest Rays brings Airwallex total funding to over $1.2 billion.
Airwallex is doubling its bet, as Fresh Capital and two of the world’s largest payments networks support it.
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