Airwallex Closes Series B Fundraising With US$80M

Investors include Tencent, Sequoia Capital China and Sir Li Ka-Shing’s Horizons Ventures. Interested in the Hong Kong Virtual Bank License to connect Hong Kong SMEs with the world through APIs.

Hong Kong, 3 July 2018 | International payments company Airwallex today announced the successful completion of its Series B fundraising. The company has now secured US$80 million in investments, taking their total fundraising to US$102 million. Airwallex provides end-to-end, cross-border payment solutions to some of the largest marketplaces and fintech companies around the world including and Tencent.

Existing Series A investors Tencent and Sequoia China were joined by renowned investment firm Hillhouse, Sir Li Ka-Shing’s Horizons Ventures from Hong Kong, Indonesia’s Central Capital Ventura and Australia’s Square Peg Capital.

Airwallex is powered by a sophisticated FX and payment engine, with a transparent pricing model to minimize cost, mitigate market risk and maximise speed.  Airwallex partners with some of the largest banks including ICBC, Standard Chartered, Bank of East Asia and DBS to optimize payment routes and increase cross-border payment efficiency. Airwallex’s proprietary APIs connect Hong Kong’s SMEs and fintech companies to the world.

Connecting SMEs with the world, with interest in a virtual bank license in Hong Kong

According to research by HKU, 54% of the SMEs in Hong Kong face the challenge of increasing operational and transaction costs. Through its APIs, Airwallex enables full automation of all cross-border collection, foreign exchange, settlement and payout processes to help them address this challenge and in turn make them more competitive in the global economy.

Airwallex will assist SMEs in Hong Kong to improve financial inclusion, and to create a full API bank that supports and empowers the local Hong Kong fintech ecosystem to thrive globally. Airwallex is interested in applying for a virtual bank licence in order to help local Hong Kong SMEs and fintech ecosystem to meet their financial services needs in the Greater Bay Area and along the One Belt, One Road countries.

“We will continue to deliver excellent end-to-end payment solution to SMEs in Hong Kong and the rest of the world. By delivering fast, cost-effective services with a global reach, we not only help them streamline their financial processes, but also lower their barriers to entry into the international market. This is especially important for businesses looking to succeed across the global economy,” said Chief Executive Officer and Co-founder of Airwallex, Jack Zhang.

Currently the Airwallex global payment network covers more than 130 countries, including close to 40 along the One Belt, One Road route, and supports more than 50 currencies, with Asia Pacific at the core of the network.

Eyes set on global business expansion and a global digital payment network

Airwallex plans to use the funding to expand its global footprint, solidifying connections between Asia Pacific (particularly Southeast Asia), Europe and North America. Adding to their dedicated entities in Hong Kong, Shanghai, Singapore, London and Melbourne; they’re now extending to North America, and Canada – supporting companies doing cross-border business throughout those markets to accelerate their connections with China and the rest of the world.

“We will work towards developing an all-in-one platform for foreign exchange, payments and collection, as well as a global digital payment network. We will continue to provide businesses across different industries with automated financial infrastructure, enhanced cash management and collection capabilities for merchants, always with a focus on delivering personalized services for our clients,” said Jack Zhang.

“As the pace and connectivity of the digitalized global economy continues to rapidly accelerate, the need to focus on foreign exchange and payments has become critically important for large corporates and SMEs,” said Neil Shen, Founding and Managing Partner of Sequoia China. “We believe that Airwallex’s continuous improvement in providing seamless solutions for this problem is eliminating the obstacle, effectively giving their clients a clear advantage in a hyper competitive global market.”

About Airwallex
Airwallex is a financial technology company that offers integrated solutions for cross-border payments. Airwallex facilitates international money transfers through a combination of payment collection, foreign exchange and local payment distribution. Supported by high profile investors including Tencent, Sequoia China, MasterCard, Hillhouse, Horizons Ventures, BCA and Square Peg Capital, Airwallex brings extensive experience in the Asia Pacific to the global market. Airwallex has six offices globally and partners with MasterCard,, Bank of East Asia and Globalegrow.

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