Paula Tudoran
4 min read
Payments startup Airwallex announced Wednesday that it secured a new $300 million funding round, pushing its valuation to $6.2 billion.
Founded in 2015, Airwallex has grown into a global player by helping businesses send, receive, and manage international payments at scale, Reuters reports. With a network spanning more than 150 countries, the company now reports over $1.2 billion in total funding, with investors of the latest round including major names like DST Global, Square Peg, Lone Pine Capital, and Blackbird.
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While fintech startups exploded in valuation post-pandemic, many are now facing investor fatigue. According to Reuters, persistently high interest rates, recession concerns, and geopolitical volatility have forced many firms to delay fundraising or accept lower terms.
Airwallex has bucked that trend since its 11% increase in valuation from the previous round in 2022 is a signal of both operational strength and investor confidence. The company now counts industry giants like Shein, Qantas, and Xero among its client base, Reuters says.
CEO Jack Zhang told Reuters that more than 70% of the company's net revenue now comes from online payment processing and spend management, rather than just cross-border infrastructure.
The diversification strategy appears to be paying off. Zhang emphasized in the company’s announcement that Airwallex is no longer just a cross-border payments solution, but a broader financial operating system for modern businesses.
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“The global financial system wasn't built for today's borderless economy,” Zhang said. “Too many businesses are held back by legacy infrastructure that's slow, costly, and fragmented. At Airwallex, we're building a new foundation for the global economy – one that's fast, seamless, and built for scale. This investment marks a major milestone in our journey to redefine global banking, and to empower businesses everywhere to grow without limits.”
Airwallex is also doubling down on global expansion. The company said it opened its U.S. headquarters in San Francisco last year and recently opened new offices in New York, Toronto, and Paris. According to Reuters, the startup is joining other payment providers competing with major players like JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Citigroup (NYSE:C).
