Square Peg, Sequoia Capital China, and Tencent, among others, have contributed $100 million to the series E2 fundraising of the international finance platform Airwallex.
The amount raised was valued at US $5.5 billion, the same as Airwallex’s US $100 million round from November of last year. Since its founding, the firm has raised a total of US $900 million.
Airwallex CEO Jack Zhang said in a statement that despite the present market circumstances, the company is still “fully funded.”
“This additional runway allows us to continue our growth plans, product expansion, and hire some of the best talents in the world,” he said.
When compared to the same quarter in 2021, the FinTech platform’s client base more than quadrupled and its revenue increased by almost three times.
The platform of AirWallex, which was founded in 2015 by Zhang and Max Li, aids companies all over the world in managing online payments, treasury, and payouts. More than 19 nations are where it is present.
In May, the company announced the introduction of a virtual multicurrency Visa business debit card and cost management system in Singapore. In April, it launched cross-border payment services in Malaysia.