Airwallex, a leading global fintech company, has announced it has secured $200 million in a Series E funding round. The funding round was spearheaded by Lone Pine Capital.
With this funding round, Airwallex’s valuation has grown to $4 billion. In March 2021, the firm completed a Series D funding round that depicted Airwallex as the leading fintech firm despite the volatility caused by the Covid-19 pandemic.
Aid in Global Expansion
In the announcement, Airwallex stated that the funds would help the firm achieve global expansion. Furthermore, the firm will also seek to boost the development of its sales and commercial divisions.
The CEO and co-founder of Airwallex, Jack Zhang, stated that this additional capital would allow the firm to boost its growth in Europe, North America, UK and other emerging economies such as Middle East, South America and Southeast Asia.
David Craver, the Managing Director at Lone Pine Capital, also commented on this funding round, stating that “Airwallex has a clear competitive advantage in the digital payments market. We are excited to invest in Airwallex at this dynamic time and look forward to helping drive the company’s expansion and success worldwide.”
Involved both New and Existing Investors
Lone Pine Capital was not the only firm involved in this funding round. It also included other investors such as Vetamer Capital and G Squared. Existing investors such as DST Global, Salesforce ventures, 1835i and Sequoia Capital China and joined the Series E funding round. Since the firm was founded, it has raised around $700 million in equity funds.
Zhang commented on these results stating, “We are excited to welcome Lone Pine Capital and our new Silicon Valley investors. Their wealth of experience, foresight, and successful industry track records are a significant validation of our business and global growth strategy.”
Airwallex also recently released its financial results, where it reported growth in revenues during the first six months of 2021. The company’s revenues increased by 150% during the first half of 2021 compared to the same period last year. The firm also increased its human resources by adding around 1000 employees in different locations globally.