Airwallex Completes $200 Million Series E Funding Led by Lone Pine Capital

Airwallex, a global financial technology company, announced today that it has completed an oversubscribed $200 million Series E financing round, raising the company's valuation to $4 billion. Following the completion of its Series D round in March this year , this round of financing further strengthens Airwallex's leading position as one of the world's fastest-growing unicorns in a changing global business environment affected by the pandemic.

Lone Pine Capital led the round , with participation from new investors G Squared and Vetamer Capital, as well as existing investors 1835i Ventures (ANZi), DST Global, Salesforce Ventures and Sequoia Capital China. With the completion of the E round, Airwallex has raised more than US$700 million in total.

This financing will further help Airwallex expand its global market presence, continue to advance product planning and innovation in its five major technology R&D centers around the world, expand its sales and business teams, create richer and easier-to-use products for small and medium-sized enterprises and large institutions, and help companies develop rapidly in the digital economy.

Jack Zhang, Co-founder and CEO of Airwallex, said, “We are honored to have Lone Pine Capital and other Silicon Valley investors as our investors. Their rich experience, foresight and outstanding industry investment performance will bring us new perspectives and play an important role in Airwallex’s global development strategy.”

Jack also said: "Airwallex's vision is to build a global financial infrastructure and platform that enables businesses to grow rapidly around the world without borders. This new round of financing will better support our continued expansion into markets such as North America, the UK, Europe, and rapidly developing emerging markets such as the Middle East, South America, and Southeast Asia, and strengthen Airwallex's leading position in the global digital payment field."

Airwallex has grown rapidly over the past year . In the first half of 2021, Airwallex's revenue increased by 150% year-on-year, with annual transaction volume exceeding US$20 billion, and its global customer base expanded to four times that of 2020, including global innovative companies such as GOAT, Papaya Global and Stake. Currently, Airwallex has nearly 1,000 employees in more than 20 office locations around the world, twice the number of employees last year. At the same time, Airwallex has further expanded its product line this year and achieved many milestones in its global development, including entering the North American market , obtaining an EMI license in the Netherlands , and obtaining an MSB license in Malaysia .

"Airwallex is a leader in digital payments," said David Carver, Managing Director of Lone Pine Capital. "They are rooted in Asia Pacific, have a global vision, and have built innovative financial infrastructure. Their rich product lines and service capabilities also fully demonstrate that Airwallex has huge global growth opportunities. In the fierce industry competition, Airwallex's rapid development has impressed us. We are very pleased to participate in this investment and look forward to supporting Airwallex's global business development."

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