June 26 (Reuters) – 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.
(Reporting by Kumar Tanishk in Bengaluru; Editing by Rashmi Aich)
