The Tencent, Bank Central Asia and Mastercard-backed cross-border remittance service is seeking series D funding and is in talks with an unnamed financial services firm to lead the round.

Airwallex, an Australia-based international remittance service backed by internet group Tencent, is seeking $200m in a series D round led by an undisclosed financial services firm, DealStreetAsia reported on Friday.

The company confirmed that it was raising capital but did not offer any additional details. People familiar with the matter told DealStreetAsia it is targeting a $1.5bn pre-money valuation, up from $1bn in its last round.

Founded in 2015, Airwallex has built a cross-border remittance service that allows enterprise clients…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.