Airwallex has raised $200 million in an oversubscribed Series E financing round, increasing the company’s valuation to $4 billion. This latest investment follows an extended Series D capital raise earlier this year in March, cementing Airwallex’s position as one of the fastest-growing unicorns amid an unprecedented business environment affected by Covid.
“This latest round was led by Lone Pine Capital. New investors G Squared and Vetamer Capital also joined the round, alongside existing investors including 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures, and Sequoia Capital China. With the completion of Series E, Airwallex has achieved more than US$700 million in equity funds raised to date.
The investment will support Airwallex’s global expansion and enable the company to accelerate multiple product development initiatives across its five engineering hubs, grow its sales and commercial teams and increase its breadth of offerings for SMEs and larger enterprises operating in the digital economy.
“We are excited to welcome Lone Pine Capital and our new Silicon Valley investors. Their wealth of experience, foresight, and successful industry track records are a significant validation of our business and global growth strategy,” says Jack Zhang, Co-founder, and CEO at Airwallex.
“Airwallex has a clear competitive advantage in the digital payments market,” says David Craver, Managing Director at Lone Pine Capital. “Its unique Asia-Pacific roots, coupled with its innovative infrastructure, products, and services, speak volumes about the business’ global growth opportunities and its impressive expansion in the competitive payment providers space. We are excited to invest in Airwallex at this dynamic time, and look forward to helping drive the company’s expansion and success worldwide.”
