ANZi Ventures was among the investors that added $100m to a round that now values the cross-border payment software producer at $2.6bn.
Airwallex, an Australia-headquartered provider of cross-border payment technology, yesterday added $100m from investors including financial services firm ANZ Bank’s ANZi Ventures unit to a series D round now totalling $300m.
Investment firm Greenoaks Capital led the extension, which also featured investment firm Grok Ventures and technology investment fund Skip Capital. It valued Airwallex at $2.6bn, up from $1.8bn in the round’s $160m first tranche in April 2020.
ANZi Ventures backed the first close with internet group Tencent and enterprise software provider Salesforce’s investment arm, Salesforce Ventures, as well as DST Global, Sequoia Capital China, Hillhouse Capital and Horizons Ventures. Unnamed investors added $40m in September.
Airwallex provides a range of financial software tools designed to help businesses expand seamlessly into new markets, enabling them to maintain business accounts in multiple currencies, create virtual payment cards and sync transactions across different currencies.
Jack Zhang, Airwallex’s co-founder and chief executive, said: “The additional investment is a vote of confidence in the global financial infrastructure we have built, as we look to empower businesses to grow without borders.
“This year, we are focused on our global expansion. We continue to extend our international footprint and are bolstering our capabilities through partnerships and new product launches. Strengthening our investor base with the addition of Greenoaks will also help us accelerate that progress.”
The series D extension almost tripled the company’s valuation from early 2019, when DST Global led a $100m series C round that also featured Tencent, Hillhouse Capital, Sequoia Capital, Horizons Ventures and Gobi Partners valuing it at $1bn.
Airwallex had completed an $80m series B round the previous year, raising the money from Central Capital Ventura, the venture capital arm of financial services firm Bank Central Asia, in addition to Tencent, Sequoia China, Hillhouse Capital, Horizons Ventures and Square Peg Capital.
Square Peg Capital had already invested $6.1m in the company in December 2017, after it raised $13m in a May 2017 series A round featuring Tencent, payment services firm Mastercard and Sequoia China. It followed $3m from Gobi Partners, Huashan Capital One and Billy Tam the year before.
