Airwallex has raised A$100 million (A$159m), which it calls “Series E2”, to avoid bankruptcy.
The Melbourne fintech raised an existing US$5.5 billion (A$8.7bn) valuation to land fresh funds from existing investors Square Peg, Salesforce Ventures, Sequoia Capital China, Lone Pine Capital, Hermitage Capital, 1835i Ventures and Tencent.
Local super fund HostPlus and North American Pension Fund also backed the increase.
The sliding value of the Australian dollar against the greenback means that the $8.7 billion local value is now $1.1 billion higher than when AirLex reported it was in talks with Visa about the increase earlier this year.
Fintech’s ability to stay on top of its valuation is impressive, especially when three months ago Sweden’s BNPL Klarna fell 85 percent in 12 months, from US$45.6 billion to US$6.7 billion in July 2021. .
The Australian fintech has now raised a total of US$400 million in Series E across three rounds.
News of the Airwallex hunt for a third series E first surfaced in April, as it was considered a public listing. It raised $275 million in Series E last year, followed by $137 million two months later. That’s 2020’s $130 million Series D.
In the seven years since its inception, Airwallex has now raised $902 million ($1.46 billion).
CEO Jack Zhang said they didn’t need to raise it, but the business is open to acquisitions as the prices of other startups fall.
According to Zhang, the company’s customer base has doubled year-over-year, and its revenue has increased by 184 percent.
“The review highlights investors’ confidence in Airwallex’s core business value and fundamentals. We are fortunate to have the continued support of our existing investors and the trust of new investors as we pursue our vision of becoming a global economic infrastructure for modern businesses. ,” he said.
“Market conditions will remain challenging in the future, and while we remain well capitalized, this additional airport will allow us to continue our growth plans, continue our product expansion and hire some of the best talent in the world. We will better enable our customers to unlock new market opportunities by strengthening our global reach and product offering.” We can encourage.
The business is looking to roll out a number of new products and services in the coming year, including an update to its expense management platform and credit solution, along with continued market expansion.
“We are building one of the most powerful global payments and banking infrastructures in the world,” Zhang said.
Fintech in 2010 It is set to nearly double its headcount by 2021 and now employs 1,000 people in more than 20 locations worldwide.
The business launched in the US late last year and also saw the Singaporean entity acquire a major payments institution license to expand its financial services.

In the year After its launch in 2015, Airwallex’s capital has risen.