Airwallex valued at $4 billion in latest funding round

Airwallex, a fintech startup based in Hong Kong, has closed a Series E funding round, having raised US$200 million at a valuation of US$4 billion – this deal rides on the wings of a push for more digitization, especially in a pandemic era.

The funding round was led by U.S.-based Lone Pine Capital and drew commitments from a host of other existing backers including 1835i Ventures, DST Global, Salesforce Ventures, and Sequoia Capital China. 

The new investors who took part in this funding effort include G Squared and Vetamer Capital Management, both San Francisco-headquartered firms.

From inception to date total capital acquired by Airwallex from investors in five funding rounds stands at approximately US$702 million. 

The latest capital injection will be applied towards ongoing efforts by Airwallex to expand its market presence, as well as to ramp up product development.

“This additional capital enables us to scale our presence in North America, U.K., Europe and other new markets including the Middle East, South America, and Southeast Asia, and become a dominant leader in global payments,” said Jack Zhang, co-founder, and CEO of Airwallex, in a release.