Digital payments platform Airwallex has topped up its $200 million Series E financing round with a further $100 million extension from Lone Pine Capital alongside other existing investors including 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China.
The new funding raises Airwallex’s valuation to $5.5 billion and follows a strong third-quarter performance, where the company recorded a 165% YoY revenue increase, with annualised revenue exceeding $100 million. The company also made more than 200 additional hires as it launched its virtual employee cards in Hong Kong and the UK, marked its entry into Southeast Asia with licences in Singapore and Malaysia, and continued to onboard new global customers.
Jack Zhang, co-founder and CEO of Airwallex, comments: “As we approach our sixth anniversary, we want to continue to connect entrepreneurs, business builders, and makers with opportunities in every corner of the world. This new capital injection will allow us to do just that, fuelling M&A opportunities that will accelerate our global expansion plans, pursuing our mission to empower businesses to grow without borders.”