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Airwallex’s raises $40m as part of extended Series D

Airwallex has announced that the company has closed its extended Series D fundraising with an additional US$40M from new and existing investors.

This builds on Airwallex’s US$160 million Series D round announced in April 2020, bringing its total Series D funding to US$200M and total equity funding raised to date to over US$400M.

The additional funds raised will enable Airwallex to invest in the continual build out of its product suite, to strengthen its existing footprint in key regions such as Asia Pacific and UK/Europe, and to expand its global payment coverage to include additional regions such as the Middle East, Eastern Europe and Africa.

Airwallex is currently laying the groundwork for its market entry in the US in Q1 2021. The company has been able to respond strongly to accelerated demand for digital payments in 2020. Airwallex reported over a 50% increase in its global customer base and over a 100 per cent increase in net revenue in Q3 2020 (versus Q2 2020), particularly in the ecommerce, digital, tech, and logistics sectors.

Airwallex has also been actively recruiting to help drive its ambitious international expansion goals, hiring more than 140 staff in the first half of the year, and is still looking to fill over 100 open roles across its global offices.

Jack Zhang, CEO and co-founder of Airwallex commented, “A major shift in the way businesses operate from offline to online is something Airwallex predicted from our inception. However, 2020 has fast-tracked this transition in a way no one could have foreseen. We are more certain than ever that the digital economy is going to be the centre of the world’s economic structure.”

“Across 2020, Airwallex has increased execution velocity in product innovation, infrastructure and coverage expansion – all while ensuring that it continues to deliver an outstanding customer experience. Our most significant fundraising round to date, in conjunction with our constant drive for innovation and the foresight to adapt to the evolving world, sets Airwallex up with a solid foundation for the years ahead.”

The post Airwallex’s raises $40m as part of extended Series D appeared first on UKTN (UK Tech News).

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