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."