Melbourne-based global payment solution provider Airwallex has raised an additional $100 million in its Series E1 round, just two months after it secured $200 million Series E capital.
The round, which values Airwallex at $5.5 billion, continues to be led by Series E investor Lone Pine Capital, and joined by other existing backers including 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China.
The new funding round was oversubscribed, Airwallex said in a statement. The company has raised over $800 million in capital since its establishment in 2015.
Jack Zhang, co-founder and CEO of Airwallex, said the fresh capital will be used to fuel M&A opportunities for the company to accelerate its global expansion ambition.
Airwallex recorded a 165% year-on-year revenue increase, with annualised revenue exceeding $100 million in the third quarter of 2021. The company also made more than 200 additional hires.
In the last quarter, Airwallex launched its virtual employee cards in Hong Kong and the UK, and made a foray into Southeast Asia with licences in Singapore and Malaysia.
Airwallex was founded in Melbourne in 2015 by Chinese entrepreneur Zhang, along with co-founders Lucy Liu, Jacob Dai and Max Li, before moving its headquarters to Hong Kong in 2018.
The firm offers a global fintech payment platform that helps businesses manage payments, treasury, and expenses internationally, without the constraints of the traditional financial system.