- General
- July 3, 2018
- 4 minutes read
Fintech company Airwallex raises $80 million Series B funding from Hillhouse, Sequioa, Tencent and others
Airwallex co-founder and COO Lucy Liu image credit : Airwallex Australian fintech company Airwallex which was founded December 2015…
Australian fintech company Airwallex which was founded December 2015 and is known for its provision of several integrated solutions to various businesses which facilitate cross-border transaction has now raised a huge $80 million in Series B funding from a number of notable investors who include Tencent and Sequioa who also previously participated in the company’s previous Series A round of funding and other investors who include Hong Kong Tycoon Li Ka Shing’s Horizons Ventures, Australia based Square Peg Capital and Hillhouse Capital Group amongst others.
This investment brings the total raised by the 2+ year old company to over $100 million with this investment round earmarked towards expanding “operations globally, with particular focus in South East Asia to deliver on what Airwallex has coined the ‘dream factory model.”
Airwallex’s model provides a full stack solution for its clients to accelerate their global growth through the use of its several financial technology services which provides an end to end solution for business transaction processes.
The Australia based company counts the regions of Singapore, Hong Kong, and the South East Asia as a very major market for its business and with this huge investment is aiming to expand into the huge fintech market in the South East Asian field.
Airwallex is also making use of this “new funding to seed the go-to-market for a new product suite that will solve the pain felt by SME’s attemping to grow internationally, but hitting sizeable payments and FX barriers” which is a much needed service by various companies around the world and puts Airwallex at a good position to provide and scale these services.
On this investment, Airwallex’s co-founder and COO Lucy Liu is quoted as saying as per the company’s press release “Airwallex wants to support businesses with awesome financial products,” She continued “In providing these solutions, we intend to shake up the industries we’re playing in. We’re creating better, more cost effective one-stop-shop solutions using technology delivered around the world.”
Airwallex now joins the ranks of the rapidly growing and expanding startup companies to come from the Australian region which counts the likes of $1 Billion graphic design software provider Canva, and also the notable $14 Billion+ software company Atlassian which counts Australia as its founding place and current headquarters although its listed on the Nasdaq Stock Exchange.
Airwallex was started by a team of co-founders consisting of Jack Zhang who currently runs the company as its CEO, Lucy Liu who stands today as the company’s COO, Xijing Dai who currently helms the position as CTO of the company along with two other co-founders who still hold executive ranks at the Melbourne headquartered company.
