Melbourne-founded payment solutions company Airwallex has become the latest fintech unicorn following a successful Series C funding round.
The company has raised $100mn in its latest round, bringing its total value up to over $1bn. The round was led by DST Global, which has invested in the likes of Facebook, Airbnb and Spotify. Other participants included Sequoia Capital China, Tencent, Hillhouse Capital, Gobi Partners, Horizons Ventures and SquarePeg Capital, all of which had previously invested in the company.
Airwallex was founded in 2015 and deals with cross-border payments, with clients including JD.com, Tencent and MasterCard. The company provides international collection and payment products which empower marketplaces, online sellers and SMEs to grow, especially internationally.
CEO and Co-founder, Jack Zhang, said: “Airwallex is proud to free businesses from many of the traditional barriers that have made our international transactions so difficult. Our mission is to build a worldwide, technology-driven financial infrastructure that will help our customers – including marketplaces, online sellers and SMEs – grow their businesses globally.”
Tom Stafford, Managing Partner at leading investor DST Global, said: “The growing ecommerce industry needs a technology-focused payments network that is reliable, cost-effective and provides data transparency. Airwallex has built such a network and we are excited to partner with Jack and the team as they continue to grow their business.”