Key Sentence:
- Airwallex, a Hong Kong-based fintech startup, has raised $200 million for its $4 billion E-series amid the pandemic-era digitalization craze.
- US-based Lone Pine Capital leads the funding circle.
It includes former backer of 1835i Ventures (formerly Australia and New Zealand). Israeli-Russian billionaire Yuri Milner DST Global, Salesforce Ventures, and China’s Sequoia Capital. New investors Hong Kong Fintech Firm Airwallex G Squared and Vetamer Capital Management, both based in San Francisco, joined the group.
According to the startup, Airwallex has raised $702 million from investors in five financing rounds. The new investment will fund Airwallex’s global expansion and accelerate product development.
“This additional capital allows us to expand our presence in North America, the UK, Europe and other emerging markets including the Middle East. South America, and Southeast Asia, and become a dominant leader in global payments. Zhang founded Airwallex in 2015 along with Xijing Dai, Max Li, and Lucy Liu. Which ranked 30 out of 30 in Asia in 2017.
Last month, the launch was added to the Cloud 100 ranking of the world’s best private cloud companies.
Airwallex enables faster cross-border payments by Hong Kong Fintech Firm Airwallex supporting around 30 currencies in more than 130 countries, among others. According to the startup, sales in the first half of the year were up nearly 150% compared to the previous year. And this year they have more than doubled to almost 1,000 employees of more than 20 locations worldwide.
Fintech operators generally have an opportunity to attract consumers during a pandemic. As more people shop online, according to research notes from the US-based Fifth Third Bank. Last month, Twitter co-founder Jack Dorsey, a small payments company called Square, agreed to buy Australian fintech firm Afterpay for $29 billion.