Airwallex bags another $100m in Series E extension

Global fintech platform Airwallex has secured an additional $100 million in its second Series E extension “Series E2” at the same $5.5 billion valuation.

Airwallex raises $100m, retains $5.5bn valuation

Existing investors Square Peg, Salesforce Ventures, Sequoia Capital China, Lone Pine Capital, Hermitage Capital, 1835i Ventures and Tencent took part in the round, along with HostPlus, an Australian industry superannuation fund, as well as a North American pension fund.

The extension round brings Airwallex’s total funding to more than $900 million and the fresh capital will be used towards the company’s growth, product expansion and hiring talent.

Established in 2015 in Melbourne, Airwallex provides payments and banking infrastructure for businesses of all sizes, enabling them to accept payments, move money globally and “simplify” their financial operations through a single platform.

“We are building one of the world’s most powerful global payment and banking infrastructure,” states Jack Zhang, co-founder and CEO of Airwallex.

Last November, Airwallex had raised its first Series E extension of $100 million, just two months after an oversubscribed Series E round which saw it raise $200 million.

Since then, Airwallex has grown its footprint globally, extending its presence in Europe (UK), North America (US) and Asia Pacific (China), and claims to serve “tens of thousands” of businesses across the world.