Australian fintech unicorn Airwallex today announced the close of its US$160 million Series D funding raise, including investment from the venture arms of ANZ bank and CRM giant Salesforce.
Airwallex, a Melbourne-based fintech which allows companies to manage cross-border revenue and financing, says the new funds will be used to expand its product line, accelerate growth in other markets, and potentially to acquire other payments companies.
New investors ANZi Ventures (the corporate venture capital arm of ANZ Bank) and Salesforce Ventures (the global investment arm of Salesforce) joined returning investors DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures in the Series D round.
The new investment boosts Airwallex’s valuation to US$1.8 billion, according to the company, well past the “unicorn” mark.
Started in Melbourne in 2015 by four Chinese founders, Airwallex offers proprietary infrastructure, platforms and APIs which enable “low-cost, high-speed and transparent international collections and payments” for SMBs dealing in various currencies.
After four funding rounds totalling $US362 million, Airwallex also now offers a suite of enterprise products, “borderless” Visa cards, and integration with Xero.
The company has grown to over 420 employees and now has 10 international offices, mostly in Asia. Airwallex says the new money will help it push into new markets, including Europe, the US, and the Middle East.
Jack Zhang, CEO and Co-founder of Airwallex, said the company anticipates a world where “all businesses will operate and conduct their affairs online – including banking”.
“From the very beginning, our vision has been to lead the transformation of global financial infrastructure. We have stayed true to our vision by building the Airwallex platform with fast and agile technology, continually improving our product and investing in dedicated support teams. More than ever, we are well-positioned to support businesses no matter their size as they adapt to today’s changes.”
“The commitment and confidence from both new and existing investors in this round is a strong validation of our successes and our strategic vision. With their support, we look forward to accelerating our growth and further empowering businesses across the globe.”
Ron Spector, managing director of ANZi Ventures, said of the funding, “ANZi Ventures is pleased to make a strategic investment in Airwallex, one of Australia’s fintech leaders. We look forward to working further with the team to support their vision of building a next-generation digital payments platform for SMBs and enterprises globally.”
Rob Keith, Head of Australia, Salesforce Ventures, said, “Being able to transact and do business with customers all over the world is a key criteria for companies who are going through a digital transformation. We’re excited to partner with Airwallex at this critical time in its growth, expanding both its footprint globally and its product capabilities.”
Correction: Airwallex has raised $US362 million in its four funding rounds. An earlier version of this article stated the figure as $US360 million.