Payments firm Airwallex said on Friday it raised $320 million at a valuation of $11 billion, marking a near 38% jump from its previous financing late last year, with eyes on expanding its global footprint and AI offerings.
Here are some details:
The funding brought Airwallex's total funding to $1.8 billion as of June, according to its website.
"The investment will help Airwallex accelerate product development across autonomous finance and agentic commerce," the fintech firm said.
Airwallex also announced two new product offerings: a platform automating bookkeeping and compliance for businesses, and a consumer digital wallet.
Earlier in the year, the company acquired South Korea's Paynuri, securing local payments licences and a foreign-exchange business registration to operate directly in the country.
In March, the company reached $1.3 billion in annualised revenue, up 74%, and $287 billion in annualised transaction volume, more than double the previous year.
Airwallex, founded in Melbourne in 2015 and co-headquartered in San Francisco and Singapore, holds more than 85 licenses across continents and caters to more than 676,000 businesses, according to its statement.
The latest round of funding was anchored by New York-based venture capital firms Addition, T. Rowe Price, and Hummingbird, among others.
