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Aussie payments startup Airwallex raises US$100m

Aussie payments startup Airwallex raises US$100m

Australian cross-border payments startup Airwallex has joined the fintech unicorn club after closing a US$100 million Series C fundraising round led by DST Global.

Existing investors Sequoia Capital China, Tencent, Hillhouse Capital, Gobi Partners, Horizons Ventures and SquarePeg Capital joined the round, which brings Airwallex's value to over US$1 billion just three years after it was founded.

Targeted at businesses rather than consumers, the Airwallex platform helps users move money "programmatically" on a global scale. Customers can create international bank accounts instantly, access interbank exchange rates and send money through local and international clearing networks to more than 130 countries.

The new funding will be used to push global expansion and product development, with an emphasis on marketplaces, online sellers and SMEs.

Jack Zhang, CEO, Airwallex, says: "Our mission is to build a worldwide, technology-driven financial infrastructure that will help our customers - including marketplaces, online sellers and SMEs - grow their businesses globally."

Comments: (1)

Gerard Hergenroeder
Gerard Hergenroeder - Payments Shark - Millersvile 26 March, 2019, 12:54Be the first to give this comment the thumbs up 0 likes

This is great news for consumers. The traditional banks have lost their innovation edge in the past 25 years. In the U.S. credit card pricing is a burden on many consumers. The industry still uses predatory pricing practices with lots of fees! Go Apple. Competition will be good for consumers.