Airwallex

In a University of Melbourne interview, Lucy Liu recalled that Jack Zhang and Max Li encountered high foreign-exchange and banking costs while running a café in Melbourne’s Docklands. She joined them and Xijing Dai in 2015 to address cross-border payment problems. Investor Square Peg also lists Ki-lok Wong among the founders. Airwallex initially combined collections, foreign exchange and local payouts; in September 2016 it became the first Australian startup to join Mastercard Start Path.⁠[5][1][6]

On 13 December 2017, Airwallex announced a US$6 million investment from Square Peg following a US$13 million Series A backed by Tencent, Sequoia Capital ChinaHSGHSG, also known as HongShan and formerly Sequoia China, is an investment firm founded in 2005. It invests in seed, venture, growth, buyout, infrastructure and public equities, focusing on technology, healthcare and consumer sectors. Portfolio companies include Meituan, ByteDance, Pinduoduo and Pop Mart; international consumer-brand investments include AMI Paris, Marshall and Golden Goose.Open the full entry and Mastercard. The Series A and A+ financing supported international expansion and APIs for payments at scale.⁠[6]

In July 2018, Airwallex raised US$80 million in Series B financing, bringing total funding to US$102 million. Investors included Tencent, Sequoia Capital China, Hillhouse Capital, Horizons Ventures, Central Capital Ventura and Square Peg. With entities in Melbourne, Hong Kong, Singapore, London and Shanghai, it planned further North American expansion.⁠[7]

The US$100 million Series C announced on 26 March 2019 was led by DST GlobalDST GlobalDST Global is a technology investment firm founded by Yuri Milner in 2009 that focuses on growth-stage investments in internet companies worldwide; it has invested in companies including Facebook, Twitter, Alibaba, JD.com, Airbnb and Spotify, and in 2026 led the US$400 million Series B round of the AI visual content company Higgsfield.Open the full entry, with Sequoia Capital China, Tencent, Hillhouse Capital, Gobi Partners, Horizons Ventures and Square Peg returning. Total capital exceeded US$200 million and valuation surpassed US$1 billion. Airwallex named JD.com, Tencent, Ctrip and Mastercard as customers and described global accounts with local bank details and payouts to over 130 countries.⁠[8]

In April 2020, Airwallex raised US$160 million in Series D funding, adding ANZi Ventures and Salesforce VenturesSalesforce VenturesSalesforce Ventures is Salesforce’s corporate venture capital arm. Active since 2009, it backs companies from seed through growth across enterprise software, cloud infrastructure, data, security and AI. Salesforce supplies all of its capital.Open the full entry alongside DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures. Products included Visa Borderless Cards, Xero integration and an issuing API. A further US$100 million in March 2021 was led by GreenoaksGreenoaksGreenoaks is an American investment firm co-founded by Neil Mehta in 2012 and known for concentrated, long-term investing; it made an early, large bet on the Korean e-commerce company Coupang and has invested in companies including Wiz, Stripe, Databricks, and Anthropic. In May 2026, it co-led Anthropic’s $65 billion Series H funding round with Altimeter Capital, Dragoneer, and Sequoia Capital.Open the full entry, with Grok Ventures, Skip Capital and ANZi Ventures. Including a September 2020 extension, Series D totaled US$300 million; valuation reached US$2.6 billion and cumulative equity funding approached US$500 million.⁠[9][10]

In September 2021, Airwallex announced a US$200 million Series E at a US$4 billion valuation, led by Lone Pine Capital with G Squared, Vetamer Capital, 1835i Ventures, DST Global, Salesforce Ventures and Sequoia Capital China. It had launched in the U.S.United StatesThe United States is a federal country in North America made up of 50 states, the District of Columbia as the seat of government, and territories such as Puerto Rico and Guam; its capital is Washington, D.C. The Continental Congress adopted the Declaration of Independence on July 4, 1776. The 2020 census (April 1, 2020) counted a resident population of 331,449,281, and the 435 seats of the House of Representatives are apportioned among the states on the basis of the census.Open the full entry in August and obtained Dutch e-money and Malaysian money-services licenses. In November, Lone Pine led a US$100 million E1 extension with 1835i and Sequoia Capital China, valuing Airwallex at US$5.5 billion and bringing cumulative funding to US$802 million.⁠[11][12]

In October 2022, Airwallex announced a US$100 million E2 extension at a stated US$5.6 billion valuation, taking total funding above US$900 million. Investors included Square Peg, Salesforce Ventures, Sequoia Capital China, Lone Pine Capital, Hermitage Capital, 1835i Ventures, Tencent, HostPlus and an unnamed North American pension fund. The November 2021 E1 release had stated US$5.5 billion; the 2022 announcement reported US$5.6 billion.⁠[13][12]

In March 2023, Airwallex announced the acquisition of 100% of Guangzhou Shang Wu Tong Network Technology Co., Ltd., obtaining access to its Chinese online-payment license. The company said relevant Chinese regulators had approved the acquisition and that platform integration would support cross-border business.⁠[14]

On 5 March 2025, Airwallex announced definitive agreements to acquire Vietnam’s licensed intermediary payment-service provider CTIN Pay, subject to customary closing conditions. The announcement also confirmed completion of the acquisition of Mexican electronic-payment-funds institution MexPago and named former Grab finance executive Ershad Ahamed as head of Southeast Asia.⁠[15]

In May 2025, Airwallex announced a US$300 million Series F transaction, including US$150 million in secondary share transfers, at a US$6.2 billion valuation. Participants included Square Peg, DST Global, Lone Pine Capital, Blackbird VenturesBlackbird VenturesBlackbird Ventures is a venture capital firm founded in 2012, primarily backing Australian and New Zealand founders through early-stage and growth funds and operating startup community programs.Open the full entry, Airtree, Salesforce Ventures, VisaVisaVisa Inc. is one of the world’s leaders in digital payments, with roots going back to 1958, and is headquartered in San Francisco, California.Open the full entry Ventures and Australian pension funds. The company reported March annualized revenue of US$720 million and payment volume above US$130 billion, with funding supporting infrastructure and software expansion.⁠[16]

In September 2025, Airwallex acquired San Francisco billing platform OpenPay for undisclosed terms. OpenPay offered subscription management, payment orchestration and revenue analytics, including tiered, usage-based and flat-fee billing. Airwallex planned integrated billing for new and existing customers in the fourth quarter. OpenPay’s founder and CEO was Lance Co Ting Keh.⁠[17]

On 8 December 2025, Airwallex raised US$330 million in Series G funding led by Addition at a US$8 billion valuation. Participants included accounts advised by T. Rowe PriceT. Rowe PriceT. Rowe Price is a global asset management firm headquartered in Baltimore, Maryland, United States. Founded by Thomas Rowe Price Jr. in 1937, it mainly provides active equity, fixed income, multi-asset, retirement, and alternative investment management. The group’s shares trade on Nasdaq under the ticker TROW, and Rob Sharps serves as chair and chief executive officer.Open the full entry Associates, Activant, Lingotto, RobinhoodRobinhoodRobinhood is a financial services brand co-founded in 2013 by Vlad Tenev and Baiju Bhatt; its publicly listed parent company is Robinhood Markets, Inc., headquartered in Menlo Park, California, United States. The company has grown from commission-free mobile securities trading into crypto assets, retirement accounts, and other financial services, and trades on Nasdaq under the symbol HOOD.Open the full entry Ventures and TIAA VenturesTIAA VenturesTIAA Ventures is the corporate venture capital arm of the US retirement financial services organization TIAA, investing in fintech and artificial intelligence companies related to retirement savings, lifetime income, financial advice and enterprise software, and pairing some of its investments with partnerships around TIAA’s lifetime income products.Open the full entry. It made San Francisco a dual global headquarters with Singapore and planned more than US$1 billion in U.S. investment during 2026–2029. Reported October annualized revenue exceeded US$1 billion and transaction volume exceeded US$235 billion.⁠[4]

In December 2025, Airwallex announced majority ownership of Indonesian Category 1 payment-service license holder PT Skye Sab Indonesia. In January 2026, it acquired South Korea’s Paynuri, which held payment-gateway and prepaid electronic-payment instrument licenses and a foreign-exchange registration. Global business accounts and acquiring remained planned Korean launches in that announcement.⁠[18][19]

On 22 January 2026, AUSTRAC ordered Airwallex Designated Business Group to appoint an external auditor over suspected AML/CTF deficiencies. The review covered its compliance program, ongoing customer due diligence and suspicious-matter reporting, with findings due within 180 days of appointment at Airwallex’s expense. AUSTRAC cited concerns over monitoring, customer understanding and reporting oversight; further action would depend on findings. Airwallex said it would cooperate and cited a 2025 independent review that supported controls within a limited scope. Its expectation of a favorable new audit was its own position.⁠[20][21]

In April 2026, Airwallex launched Latitude 37 to support more than ten early Australian AI startups annually with A$100,000 each in equity-free funding, global-network access and visits to San Francisco and Singapore. Named after Melbourne’s latitude, it is funded through Airwallex Impact’s Pledge 1% initiative. Airwallex also reported over $5 million previously committed (the release did not specify the currency in that sentence) to the University of Melbourne.⁠[3]

In June 2026, Airwallex acquired Leapfin, a revenue-recognition and reconciliation automation platform, to connect transaction data with GAAP-ready financial records. Planned integration combined Leapfin’s subledger and accounting agents with Airwallex’s record-to-report capabilities. Leapfin’s core product, leadership and engineering teams continued operating, while further integrated features were still planned.⁠[22]

On 25 June 2026, Airwallex announced a US$320 million Series H led by Addition at an US$11 billion valuation. Participants included Baillie GiffordBaillie GiffordBaillie Gifford is an investment management firm headquartered in Edinburgh, Scotland, with a history dating to 1908. It is owned and operated by its working partners. Its businesses cover equities, fixed income, multi-asset and private growth investments, with a focus on holding growth companies for the long term.Open the full entry, Hummingbird, QED Investors, accounts advised by T. Rowe Price Associates, Hedosophia, Haun VenturesHaun VenturesHaun Ventures is a venture capital firm founded in 2022 by Katie Haun, a former U.S. federal prosecutor and former general partner at Andreessen Horowitz. It focuses on digital assets, financial infrastructure, and related frontier technologies; it raised $1.5 billion across two funds at launch and a further $1 billion in 2026.Open the full entry, Washington University in St. Louis and Amex Ventures. It reported March annualized revenue of US$1.3 billion and transaction volume of US$287 billion, up 74% and more than 120% respectively, with over 90% of revenue from multiproduct customers.⁠[23]

On 1 September 2026, Airwallex subsidiary T:0 left private beta and opened to startups operating in the U.S. The AI-native accounting platform automates bookkeeping and revenue recognition and creates business-specific financial reports. Its CEO and co-founder is Lance Co Ting Keh. Airwallex also introduced agentic consumer wallet Airi; an October announcement still described it as under development for delegated payments, spending controls and multicurrency balances.⁠[24][25]

In October 2026, Airwallex became an optional payment provider for OpenTable restaurants, supporting eligible deposits and prepaid experiences. Initial availability covered the U.S. and Canada, with Australia and Mexico planned. It also extended its McLaren Racing partnership, begun in 2024, to become the team’s Official AI Finance Partner from January 2027 while continuing merchandise-payment support. Other sports partners included Arsenal from 2025 and the San Francisco GiantsSan Francisco GiantsThe San Francisco Giants are a professional baseball club in San Francisco, playing in Major League Baseball’s National League at Oracle Park. Founded in New York in 1883, the franchise moved to San Francisco in 1958.Open the full entry and New Zealand Blues from 2026.⁠[26][25]

On 10 November 2026, Alta (financial infrastructure)Alta (financial infrastructure)A blockchain payments and settlement infrastructure company for financial institutions, co-founded by Loong Wang, Catherine Porter and Jack Zhang.Open the full entry identified Airwallex as an early design partner building on its blockchain. The collaboration is intended to connect Airwallex’s payment infrastructure with stablecoin pay-ins and payouts and local fiat networks across 200 countries and 90 currencies. Jack Zhang was also identified as an Alta co-founder. Alta announced US$80 million in total financing, comprising a US$47.5 million Series A and US$32.5 million seed round. Network integration and its initial liquidity product were described prospectively rather than as fully live services.⁠[27]

Airwallex’s suite includes multicurrency business accounts, FX and transfers, acquiring and payment links, corporate cards, expenses and bill payments, purchase orders, and subscription and usage-based billing. APIs cover onboarding, accounts, payments, FX, payouts and issuing, with availability varying by jurisdiction. In October 2026, Airwallex reported over 85 licenses, more than 2,300 staff and 27 offices. Its stated reach of over 676,000 businesses included companies served through platform customers, rather than only direct customers.⁠[2][25][26]

The official website is https://www.airwallex.com/ (opens in a new window), with a help centre at https://help.airwallex.com/ (opens in a new window). A 2021 company announcement links LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry (https://www.linkedin.com/company/airwallex (opens in a new window)), Twitter (https://twitter.com/airwallex (opens in a new window)) and Facebook (https://www.facebook.com/airwallex (opens in a new window)). Relationships include investors, acquired businesses and product subsidiaries, and partners such as MastercardMastercardMastercard Incorporated is a technology company in the global payments industry whose principal operating subsidiary was formed in November 1966. It is headquartered in Purchase, New York.Open the full entry, Visa, Xero, OpenTable, McLaren Racing and Alta.⁠[2][12][6][9][26][25][27]