Airwallex raises $254 million in series D

Airwallex has raised US$160 million (AU$254m) in Series D to fund its expansion in Europe and the US.

New investors, including ANZi Ventures and Salesforce Ventures, joined previous backers, including DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures, in the raise.

The funding will also be used to expand its product line to include payment acceptance solutions and explore acquisitions.

CEO and co-founder Jack Zhang said the global shift to digital is imminent.

“We envision a world in the not-too-distant future where all businesses will operate and conduct their affairs online – including banking – with the help of modern tools,” he said.

“From the very beginning, our vision has been to lead the transformation of global financial infrastructure. We have stayed true to our vision by building the Airwallex platform with fast and agile technology, continually improving our product and investing in dedicated support teams.”

The latest round brings Airwallex’s total equity raise since its 2015 founding to US$360 million (AU$572m).