Home Future payments Australian fintech Airwallex raises $100m and retains $5.5bn valuation

Australian fintech Airwallex raises $100m and retains $5.5bn valuation

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Oct 11 (Reuters) – Australian fintech firm Airwallex said on Tuesday it had raised $100 million in an extended funding round, maintaining its valuation of $5.5 billion.

The Melbourne-based company said it had secured more funding from existing investors, including Tencent Holdings Ltd (0700.HK), Sequoia Capital China and Lone Pine Capital.

Australian industry pension fund HostPlus and a North American pension fund also participated in the round, Airwallex said.

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With the $100 million raised in the extended Series E round, Airwallex’s total funding has grown to more than $900 million, the company said.

“The market environment remains challenging for the foreseeable future, and while we remain well capitalized, this additional avenue allows us to pursue our growth plans,” said Jack Zhang, co-founder and CEO of Airwallex.

Airwallex, which enables customers to issue and pay bills and international bills through its payment platform, said its revenue grew 184% year-on-year and its customer base grew. more than doubled.

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Reporting by Harish Sridharan and Baranjot Kaur in Bengaluru; Editing by Tom Hogue and Subhranshu Sahu

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