Fintech titan Airwallex has raised an additional US$100 million in a Series E2 round from existing investors Square Peg, Salesforce Ventures, Sequoia Capital China, Tencent, Lone Pine Capital, Hermitage Capital and 1835i Ventures. Australian industry superannuation fund HostPlus and a North American pension fund also partook in the round. 

With this, Airwallex’s total funding raised has exceeded US$900 million. The company also closed the round with the same US$5.5 billion valuation.

The fresh funds will enable Airwallex to continue widening its global reach and product offerings. “The market environment remains challenging in the foreseeable future, and while we remain well capitalised, this additional runway allows us to continue our growth plans, product expansion, and hire some of the best talents in the world,” said Jack Zhang in a statement to the press.

Read more: This Founder Helps Small Businesses Expand Overseas By Solving Their Biggest Headache

Zhang co-founded Airwallex with Lucy Liu, Max Li and Xijing Dai in 2015 in Melbourne. Now headquartered in Hong Kong, the company allows businesses to bypass the traditional financial system and make international payments quickly, transparently and cheaply. It has established a presence in most continents, employing more than 1,200 people across 19 offices in Asia-Pacific, Europe and North America. 

In 2022 and 2023, the company has new products and services planned, including improvements to its expense management platform and a credit solution, while further investing in product innovation, market expansion and talent acquisition.

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