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Airwallex closes US$160 million Series D round – its biggest raise to date

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Jack Zhang, CEO Airwallex
Jack Zhang, CEO Airwallex

Global fintech leader Airwallex has announced that it has closed its Series D fundraising round at US$160M, marking its biggest raise to date. The round includes majority participation from a group of new top-tier global strategic investors, including ANZi Ventures (the corporate venture capital arm of ANZ Bank) and Salesforce Ventures (the global investment arm of Salesforce).

Existing core investors DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures also participated, bringing Airwallex’s total equity raise since it was founded in 2015 to US$360M.

Airwallex plans to use the new funds to continue its expansion journey by:

  • Accelerating worldwide growth through customer acquisition and licensing, particularly in Europe and the US, and new markets such as the Middle East
  • Expanding its product line to include payment acceptance capabilities through a proprietary gateway solution as well as partner integration
  • Exploring acquisitions in the payments space to fast track offerings.

The new funding comes on the heels of a momentous year of growth for Airwallex. After a successful Series C round in March 2019, Airwallex’s global presence has expanded considerably, with new offices in Tokyo, Bangalore, and most recently a presence in Dubai.

Alongside the international expansion, Airwallex has also significantly enhanced its product capabilities, including the launch of Airwallex Borderless Cards in partnership with Visa and a highly-requested integration with Xero.

These new features mark Airwallex’s evolution from an international payments platform to a fully integrated end-to-end financial services provider for businesses of all sizes. The expansion of products available via Airwallex business accounts means SMBs now have access to a host of services that enable high-speed, low-cost payments and collections worldwide, alongside instant AUD, USD, EUR, GBP, HKD and CNY global accounts.

In addition to supporting the growing SMB market, Airwallex has a suite of enterprise products to help larger businesses with more complex financial needs, such as mass international and domestic payouts. Its recently launched Issuing API will further enable enterprises to generate and issue payment cards to their networks, saving them time and money.

What does this funding mean for Airwallex? 

Jack Zhang, CEO and Co-founder of Airwallex, said on the fundraising announcement, “The global shift to digital is imminent. We envision a world in the not-too-distant future where all businesses will operate and conduct their affairs online – including banking – with the help of modern tools.”

“From the very beginning, our vision has been to lead the transformation of global financial infrastructure. We have stayed true to our vision by building the Airwallex platform with fast and agile technology, continually improving our product and investing in dedicated support teams. More than ever, we are well-positioned to support businesses no matter their size as they adapt to today’s changes.”

“The commitment and confidence from both new and existing investors in this round is a strong validation of our successes and our strategic vision. With their support, we look forward to accelerating our growth and further empowering businesses across the globe.”

Ron Spector, Managing Director of ANZi Ventures, said of the funding, “ANZi Ventures is pleased to make a strategic investment in Airwallex, one of Australia’s fintech leaders. We look forward to working further with the team to support their vision of building a next-generation digital payments platform for SMBs and enterprises globally.”

Rob Keith, Head of Australia, Salesforce Ventures, said, “Being able to transact and do business with customers all over the world is a key criteria for companies who are going through a digital transformation. We’re excited to partner with Airwallex at this critical time in its growth, expanding both its footprint globally and its product capabilities.”

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