Airwallex raises $300m at $6.2bn valuation, eyes Europe expansion

By Gloria Methri

Airwallex, a global payments and financial platform, has raised $300 million in a Series F funding round, valuing the company at $6.2 billion. The funding includes $150 million through secondary share transfers. This round brings the total capital raised by the company to over $1.2 billion.

Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, and several Australian pension funds are among the investors in the round. Visa Ventures has also joined as a strategic investor.

The funding will be used to develop Airwallex’s infrastructure in new markets and enhance its software offerings for international businesses.

“The global financial system wasn’t built for today’s borderless economy,” said Jack Zhang, co-founder and CEO of Airwallex. “Too many businesses are held back by legacy infrastructure that’s slow, costly, and fragmented. At Airwallex, we are building a new foundation for the global economy – one that’s fast, seamless, and built for scale. This investment marks a major milestone in our journey to redefine global banking and to empower businesses everywhere to grow without limits.”

Expansion and Revenue Growth

As of March 2025, Airwallex reported annualised revenue of $720 million, reflecting a 90% year-on-year increase, and processed over $130 billion in annualised payment volume. The company grew its customer base by 50% in 2024 and now serves 150,000 businesses worldwide. Airwallex is targeting $1 billion in annual run-rate revenue by the end of 2025.

In 2024, Airwallex established its permanent US headquarters in San Francisco and opened additional offices in New York and Toronto. It has obtained a payment institution licence in Brazil and received approval for its acquisition of MexPago, a payment service provider based in Mexico.

In Europe, Airwallex recently opened a new office in Paris and strengthened its teams in London and Amsterdam with senior appointments. In the Middle East, the company has made its first hires in Abu Dhabi and Dubai and continues to expand in Israel.

Airwallex intends to use the funding to support entry into markets including Japan, South Korea, the UAE, and Latin America while accelerating growth efforts in Europe, North America, and Southeast Asia.

Financial Infrastructure and Product Capabilities

Airwallex has developed a proprietary global financial infrastructure, incorporating direct connections to local clearing systems and card networks, and maintains a broad portfolio of financial licences. In addition to payment services, Airwallex offers a range of business finance tools:

• Global Business Accounts: Multi-currency accounts enabling international transfers, FX management, and earning interest on balances.
• Payments: Facilities for accepting online and in-person payments through cards and over 160 local payment methods, supporting a localised and multi-currency customer experience.
• Spend Management: A platform for managing company spending across currencies, offering employee and corporate cards, bill payments, and expense tracking, supported by AI tools.
• Platform APIs and Embedded Finance: API-based access to Airwallex’s capabilities for technology firms and marketplaces wishing to offer financial services through their platforms.