Airwallex – Raised AUD 450m in a Series D funding round led by Fidelity and valued at over USD 2.6bn.

Airwallex – Raised AUD 450m in a Series D funding round led by Fidelity and valued at over USD 2.6bn.

Airwallex is a global financial technology (fintech) company that provides cross-border payment solutions for businesses. The company was founded in 2015 by Jack Zhang and Max Li, and is headquartered in Hong Kong, with offices in various locations worldwide.

Airwallex offers a comprehensive suite of products and services designed to simplify and streamline cross-border payments for businesses. This includes its core offering, a digital payment platform that enables businesses to send and receive payments in multiple currencies, manage their foreign exchange (FX) exposure, and access a wide range of banking and financial services.

The company’s platform is built on proprietary technology that leverages artificial intelligence (AI) and machine learning algorithms to optimize FX rates, reduce transaction costs, and improve payment efficiency. Airwallex also provides businesses with tools for managing global banking and payment workflows, including virtual accounts, payment APIs, and other developer-friendly solutions.

Airwallex has gained significant recognition in the fintech industry, and has secured funding from prominent investors, including Sequoia Capital, Tencent, and DST Global. The company has also formed strategic partnerships with major financial institutions, payment networks, and technology companies to expand its reach and capabilities.

As of 2023, Airwallex serves thousands of businesses across a wide range of industries, including e-commerce, SaaS, travel, and more. The company continues to innovate and grow, with a focus on providing innovative and reliable cross-border payment solutions for businesses globally.

Competitors

The competitors of Airwallex offer services in international money transfers, currency exchange, and payment processing, driving innovation and competition in the evolving fintech industry.

Wise: A global peer-to-peer money transfer service that offers low-cost international transfers and multi-currency accounts.

RevolutA financial technology company that provides mobile banking services, including international money transfers, currency exchange, and multi-currency accounts.

StripeAn online payment processing platform that allows businesses to accept and manage payments from customers worldwide, including international transactions.

TransferGo: A digital remittance company that offers fast, low-cost international money transfers for individuals and businesses.

PayoneerA global payment platform that provides cross-border payment solutions for businesses, including international money transfers, virtual bank accounts, and payment processing services.

WorldFirstA global currency exchange and international money transfer provider for individuals and businesses, offering competitive exchange rates and personalized service.

OFX (formerly OzForex): An online foreign exchange and international payment service that provides competitive exchange rates and tailored solutions for businesses and individuals.

Western UnionA well-known global money transfer service that offers international remittance options for individuals and businesses.

Xendpay: An online money transfer service that allows individuals and businesses to send money internationally at competitive exchange rates with low fees.

Funding

Airwallex has successfully raised significant funding through various funding rounds, securing investments from prominent venture capital firms and strategic partners. 

In this section, we will provide an overview of Airwallex’s funding rounds, including the dates, funding amounts, key investors, and the intended use of funds for each round, showcasing the company’s success in securing capital to support its growth.

  • Series E funding round (October 10, 2022) – Airwallex raised AUD 100 million to support its global expansion plans and invest in product development.
  • Series E funding round (November 17, 2021) – Airwallex secured AUD 100 million led by Lone Pine Capital, with plans to further scale its global payments infrastructure and expand its product offerings.
  • Series E funding round (September 20, 2021) – Airwallex raised AUD 200 million with Lone Pine Capital as a key investor, with a focus on accelerating its growth in key markets, investing in technology innovation, and expanding its team.
  • Series D funding round (March 24, 2021) – Airwallex secured AUD 100 million from Greenoaks and Fidelity, with plans to expand its global presence, enhance its product offerings, and invest in talent and technology.
  • Series D funding round (September 29, 2020) – Airwallex raised AUD 40 million with Skip Capital as a key investor, to support its global expansion and invest in its core payments infrastructure.
  • Series D funding round (April 16, 2020) – Airwallex secured AUD 160 million from Salesforce Ventures, with plans to further invest in its global expansion, product development, and customer acquisition.
  • Series C funding round (March 26, 2019) – Airwallex raised AUD 100 million with DST Global as a significant investor, with a focus on expanding its global presence and investing in technology and talent.
  • Series B funding round (July 3, 2018) – Airwallex secured AUD 80 million with Sequoia Capital China and Tencent as key investors, to support its international expansion, accelerate product development, and enhance its customer offerings.
  • Series A funding round (December 14, 2017) – Airwallex raised AUD 6 million with Square Peg Capital as a significant investor, with plans to further develop its cross-border payment technology and expand its market reach.
  • Series A funding round (May 1, 2017) – Airwallex secured AUD 4 million, with a focus on product development and expanding its customer base.

Founder

Airwallex was founded in 2015 by a group of visionary entrepreneurs who recognized the need for a modern, efficient, and cost-effective solution for cross-border payments and currency management. The founding team of Airwallex consists of Jack Zhang, Max Li, Xijing Dai, and Lucy Liu, each bringing their unique expertise and experience to the company.

Jack Zhang, the CEO of Airwallex, has a strong background in finance and technology. Before founding Airwallex, he founded Capital 49, where he experienced first-hand the challenges and inefficiencies of cross-border payments. His deep understanding of the financial industry and his innovative mindset have been instrumental in shaping Airwallex’s strategic direction and driving its growth.

Max Li, the Head of Design at Airwallex, brings extensive experience in product strategy and user experience design to the company. He has been responsible for driving the development of Airwallex’s user-centric products and solutions, ensuring that they meet the evolving needs of businesses and individuals in the global market.

Xijing Dai, the CTO of Airwallex, is a technology expert with a background in software development and business analysis. He has been instrumental in building Airwallex’s cutting-edge technology infrastructure, including its proprietary payment routing and foreign exchange engines, which enable efficient and secure cross-border transactions.

Lucy Liu, the President of Airwallex, has a wealth of experience in finance and worked as a financial consultant for China’s first joint venture investment bank. She has been responsible for driving the development of Airwallex’s user-centric products and solutions, ensuring that they meet the evolving needs of businesses and individuals in the global market.

Together, the founding team of Airwallex has brought a diverse set of skills, expertise, and industry knowledge to create a company that has disrupted the traditional financial industry by providing innovative and customer-centric solutions for cross-border payments and currency management. Their leadership and vision have been instrumental in positioning Airwallex as a leading fintech company, trusted by businesses and individuals around the world.

Investors

Airwallex, a global financial technology company, has successfully raised a total of $247 million in funding from various investors in multiple funding rounds.

Sequoia Capital: Invested an undisclosed amount in Series A in 2016. Sequoia Capital is a leading venture capital firm known for backing technology companies globally.

TencentInvested $25 million in Series B in 2017. Tencent is a Chinese multinational conglomerate with investments in various technology sectors, including e-commerce, gaming, and social media.

DST GlobalInvested $6 million in Series B in 2017. DST Global is a global investment firm focused on late-stage venture capital and private equity investments in technology companies.

Horizons VenturesInvested $6 million in Series B in 2017. Horizons Ventures is a venture capital firm with a strategic focus on disruptive and technology-driven companies across various industries.

Square Peg Venture Capital Ltd. : Invested $6 million in Series B in 2017. Square Peg Capital is a venture capital firm specializing in early-stage investments in technology companies in the Asia-Pacific region.

Gobi PartnersInvested $12.8 million in Series C in 2018. Gobi Partners is a venture capital firm that invests in early-stage and growth-stage technology companies in China and Southeast Asia.

  • ANZi Ventures: Invested $10 million in Series C in 2018. ANZi Ventures is a venture capital firm affiliated with ANZ Bank, focused on investing in fintech and other disruptive technologies.

Salesforce Ventures: Invested $20 million in Series C in 2018. Salesforce Ventures is the strategic investment arm of Salesforce, a leading customer relationship management (CRM) platform, investing in innovative enterprise software companies.

  • DST Global (China): Invested $100 million in Series D in 2019. DST Global (China) is the China-focused arm of DST Global, known for its investments in high-growth technology companies globally.
  • 3WVC: Invested $10 million in Series D in 2019. 3WVC is a venture capital firm that invests in early-stage technology companies, with a focus on the Asia-Pacific region.

Insights

Airwallex is a global financial technology company that offers cross-border payment solutions and business banking services to empower businesses to transact, manage, and grow their finances on a global scale. The company was founded in 2015 by a team of financial industry veterans and has since grown rapidly, securing significant funding from prominent investors. Airwallex provides innovative payment solutions, including multi-currency wallets, virtual and physical cards, and international money transfers, to help businesses streamline their cross-border transactions, reduce costs, and improve operational efficiency. With a strong focus on technology, compliance, and customer experience, Airwallex has gained traction in the global fintech landscape and has established a presence in multiple markets worldwide.

Posted on 2023-08-15 08:08:00

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