Airwallex receives $100 million in Series E1 funding led by Lone Pine Capital, with a valuation of $5.5 billion

Total funding in Series E reaches US$300 million

Excellent performance in the third quarter drove this round of financing to continue to be oversubscribed

This round of financing was jointly participated by Lone Pine Capital, ANZ's venture capital arm 1835i Ventures and Sequoia Capital China Fund

Airwallex , a global financial technology company, announced today that it has completed a $100 million E1 round of financing. Following the oversubscribed E round of financing a month ago, the company's valuation has risen to $5.5 billion, continuing to accelerate its global market layout. After this round of financing, Airwallex's total E round of financing has reached $300 million, and the cumulative financing scale has reached $802 million.

Airwallex ’s E1 round of financing was once again oversubscribed, driven by its outstanding third quarter performance and strong growth momentum. This round of financing was led by Lone Pine Capital, with participation from existing investors ANZ’s venture capital arm 1835i Ventures and Sequoia Capital China.

As Airwallex continues to grow its presence in core markets around the world, revenue increased 165% in the third quarter year-on-year, reaching over $100 million in annual revenue, with more than 200 new members joining Airwallex worldwide.

“Our record-breaking performance last quarter reflects the fact that more and more companies are embracing digitalization and seeking better solutions to improve their operational efficiency,” said Jack Zhang, co-founder and CEO of Airwallex. “As we celebrate our sixth anniversary, we want to continue connecting entrepreneurs, business owners and creators to global opportunities. This round of funding will enable us to accelerate this goal, support global M&A, and advance our global presence to realize our vision of enabling companies to grow rapidly around the world.”

Last quarter, Airwallex continued to grow its global customer base, making initial progress in the North American market while continuing to expand its business in the Asia Pacific and EMEA regions. Airwallex launched virtual employee cards in Hong Kong, China and the UK, and further expanded into the Southeast Asian market by obtaining licenses in Singapore and Malaysia.

David Craver, co-chief investment officer at Lone Pine Capital, said: “Airwallex’s performance in the last quarter is a testament to its strong business model and its unique ability to meet the evolving needs of customers in the competitive digital payments space. We look forward to helping Airwallex unlock greater growth opportunities and providing more support for its global development.”

Airwallex Financing