The round contains USD 150 million in secondary share transfers, while the new investment included Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, and several pension funds in Australia. Additionally, the round also saw participation from Visa Ventures as a strategic investor.
With the newly acquired capital, Airwallex is set to scale its global infrastructure into additional markets and continue improving and expanding its software, intending to serve business needs and allow them to further grow their operations. The current round brings the company’s total funding to date to over USD 1.2 billion. Airwallex underlined that the investment supports it in augmenting global banking and facilitating expansion for businesses, regardless of their location.
Airwallex’s development strategy and recent moves
Since 2021, Airwallex has witnessed accelerated expansion across the Americas and EMEA regions, with the company recently moving into a permanent US headquarters and opening new offices in New York and Toronto. Also, after receiving a payment institution licence in Brazil and approval to finalise its acquisition of MexPago, a Mexico-based payment service provider, Airwallex intends to roll out services in these two Latin American countries, seeking to serve the needs, demands, and preferences of local businesses.
Soon after this announcement, Airwallex also launched its operations in New Zealand, expanding its presence in the Asia-Pacific region. When it comes to Europe and the US, the company mapped out plans to pursue banking licences in the UK and the US, aiming to go into lending. In the Middle East, Airwallex entered the United Arab Emirates and continues its strategic growth in Israel.
The funding obtained from the Series F round will support Airwallex in continuing to scale its financial infrastructure into new markets, including Japan, Korea, the UAE, and Latin America, as well as to accelerate go-to-market efforts in Europe, North America, and Southeast Asia.
Latest news from Airwallex
Besides broadening its presence, Airwallex also teamed up with industry participants to advance its capabilities. For example, most recently, the company partnered with
Panax to augment global money movement. By integrating Airwallex’s global financial infrastructure and payments capabilities, Panax users were set to be able to execute cross-border and foreign exchange transactions directly within the Panax platform.
