Airwallex founders launch new venture capital fund, Capital 49
MELBOURNE, AUSTRALIA & HONG KONG, 29 JULY 2021 - Airwallex, a leading global payments platform, today announced plans to establish Capital 49, a new venture capital fund set up by Airwallex founders, that will invest into early stage, high-growth technology-enabled companies powered by Airwallex’s infrastructure.
The new fund aims to raise US$200 million through the Airwallex founders and other investors, and will look for opportunities to invest among companies within Airwallex’s ecosystem, across a number of industries including e-commerce, SaaS, digital and technology, business services and enablers, and fintech. To date, Capital 49 has completed investments in two such fintech firms.
“We are so excited to share the news of our new fund,” said Jack Zhang, Co-founder and CEO of Airwallex and Founder of Capital 49. “As part of the fintech and start-up ecosystem, we have consistently observed that a clear technological advantage is incredibly important for a business to stand out from the competition. That is why we are committed to invest in and foster the growth of tech-enabled companies, particularly at a time where there is huge appetite for innovative solutions to enhance business efficiencies.”
Founded in 2015 in Melbourne and headquartered in Hong Kong, Airwallex has grown to become a global fintech platform that is supported by a team of over 800 employees across 12 global offices. Earlier this year, Airwallex announced an additional capital raise of US$100 million, nearly tripling its valuation to US$2.6 billion in just two years. Airwallex also continues to broaden its suite of products and applications, providing end-to-end solutions for customers across business accounts, expense cards and other customised value-add solutions. Most recently, Airwallex announced a suite of new product solutions, including the rollout of its online payment solution in Hong Kong and Australia, as well as the launch of its Airwallex Borderless Cards for businesses in Hong Kong.
“As an organisation, Airwallex could not have achieved what it has today if not for the players within our ecosystem,” added Zhang. “With this fund, we will continue to empower businesses to grow without borders by providing them access to capital, a global network and deep insights and expertise, while ensuring we continue to generate financial returns for our investors.”
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Airwallex is a global fintech payment platform with a mission to empower businesses of all sizes to grow without borders, and by doing so, contribute to the global economy. With technology at its core, Airwallex has built a financial infrastructure and platform to help businesses to manage payments, treasury and expenses globally, without the constraints of the traditional financial system.
Airwallex has secured over US$500 million since it was established in Melbourne in 2015, and is backed by world-leading investors. Today, the business operates with a team of over 800 employees across 12 global offices. For more information, please visit www.airwallex.com
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