On Thursday, Airwallex announced it has raised an additional US$100 million in a Series E1 financing round, boosting its valuation to US$5.5 billion just two months after the company announced an oversubscribed Series E round.
This latest round takes Airwallex’s total Series E fundraising to US$300 million, with US$802 million raised in total.
Lone Pine Capital remained in the lead for this financing, alongside other existing investors including 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China.
Airwallex saw a strong third-quarter performance, recording a 165 per cent YoY revenue increase, with annualised revenue exceeding US$100 million. The company also made more than 200 additional hires as it continued to strengthen its presence in its core markets globally.
"Our record performance last quarter demonstrates the tremendous demand from customers who are seeking better solutions to operate their businesses,” said Jack Zhang, co-founder and CEO of Airwallex.
“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".
Maja's career in journalism spans well over a decade across finance, business and politics. Now an experienced editor and reporter across all elements of the financial services sector, prior to joining Momentum Media, Maja reported for several established news outlets in Southeast Europe, scrutinising key processes in post-conflict societies.