Tencent Holdings, Sequoia Capital China, and Mastercard all participated in the round. Airwallex was the first Australian startup to join the Mastercard Start Path accelerator programme in September 2016.
Tencent has a vested interest in cross-border payments as one of the largest mobile payment providers in the world through its social media app, WeChat.
The raise will propel the release of Airwallex’s suite of APIs, allowing businesses to process international payments at scale. Able to support thousands of transactions per second and providing an alternative to existing payment networks, Airwallex helps businesses automate and scale their international payment workflows.
Built to bolster foreign exchange payments around the world, the Airwallex platform is powered by a FX and payment engine and a transparent pricing model to avoid inflated margins and minimise market risk.
This Airwallex funding round follows a pre-Series A round of USD 3 million in early 2016 led by Gobi Partners.
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