Airwallex Secures $100 Million in E1 Round of Financing, Led by Lone Pine Capital

Fintech platform Airwallex announced on Thursday that it had completed a Series E1 round of financing worth $100 million, pushing the company’s valuation to $5.5 billion. This round of financing was led by Lone Pine Capital, and previous investors, 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China, were also involved.

With technology as its core, Airwallex has built a global payments platform. Its  network covers more than 50 currencies in more than 130 countries and regions, providing digital financial technology products for enterprises of various sizes.

According to Airwallex, its third-quarter revenue rose 165% year-on-year to more than $100 million in revenue. Headquartered in Hong Kong, the company currently employs over 1,000 people in 19 offices around the world.

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In the last quarter, Airwallex continued to scale its business across APAC and EMEA, while also achieving early momentum in the U.S. The company launched its virtual employee cards in Hong Kong and the UK, marked its entry into Southeast Asia with licences in Singapore and Malaysia, and continued to onboard new global customers.