Airwallex Confirmed as Latest Fintech Unicorn Following Series C
Airwallex confirms unicorn status following a successful Series C fundraising round of $100m USD, valuing the company at over $1bn USD.
Airwallex’s Series C fundraising was led by DST Global, which has previously backed internet giants Facebook, Airbnb and Spotify and fintech leaders Nubank and Robinhood.
The new capital will be used to expand Airwallex’s suite of international collection and payment products and to support global expansion into the US, UK / Europe and Southeast Asia.
Airwallex is committed to empowering marketplaces, online sellers and small and medium-sized enterprises (SMEs) to grow their businesses.
Founded in Melbourne (Australia) in 2015, Airwallex has grown from an emerging start-up to a global challenger in the cross-border payment space. Airwallex offers an end-to-end solution for businesses to make payments and move money programmatically on a global scale, supporting a client base of internet titans including JD.com, Tencent and Ctrip, and large financial service companies including MasterCard.
With Airwallex, customers can instantly create Global Accounts with local bank details, access interbank exchange rates and send money through local and international clearing networks to more than 130 countries.
Top-tier investor DST Global led the Series C fundraising round, which closed at $100m USD. DST Global has been a primary investor across a number of global technology success stories, including Facebook, Airbnb and Spotify, and other fintech leaders, such as Nubank and Robinhood.
Alongside new investor DST Global, existing participants from Airwallex’s previous rounds returned for the Series C fundraising, including Sequoia Capital China, Tencent, Hillhouse Capital, Gobi Partners, Horizons Ventures and Square Peg Capital.
The round brings Airwallex’s total capital raised to over $200m USD. Just three years after it was founded, Airwallex is now valued at over $1bn USD, confirming its position as a newly minted fintech unicorn.
Accelerating product development and global reach to help marketplaces, online sellers and SMEs
“We started Airwallex because we knew there was a better way to make global payments,” said Airwallex CEO and Co-founder Jack Zhang. “Airwallex is proud to free businesses from many of the traditional barriers that have made international transactions so difficult. Our mission is to build a worldwide, technology-driven financial infrastructure that will help our customers - including marketplaces, online sellers and SMEs - grow their businesses globally.”
Alongside global expansion, the funds will also be used to continue product development, with an emphasis on delivering further value to marketplaces, online sellers and SMEs. Airwallex aspires to become the operating system of global banking, offering customers a truly global financial platform that serves their growing business needs.
Tom Stafford, Managing Partner of DST Global, said, “The growing eCommerce industry needs a technology-focused payments network that is reliable, cost-effective and provides data transparency. Airwallex has built such a network and we are excited to partner with Jack and the team as they continue to grow their business”.
Airwallex sees strong growth momentum in Singapore, reports 13x revenue growth YoY
Following a strong year of growth, leading global fintech platform Airwallex today announced business highlights in Singapore
Airwallex launches Australian-first ‘Yield’ high returns account
Airwallex ‘Yield’ offers market-leading returns more than double that of the big banks
Demand for embedded finance soars among SMBs as traditional banks fall short
Global report uncovers the financial services pain points faced by SMBs which can limit their ability to operate and grow globally