Banking infrastructure business Airwallex has added $100mn funding in an extension of its Series E round.
In Brief:
The funding involved existing investors including 1835i Ventures, Square Peg, Salesforce Vetures, Sequioia Capital China and Tencent.
It also included new investors HostPlus and a North American pension fund.
This brings Airwallex’s total raised to $900mn while its valuation remains at $5.5bn.
What does this mean?
In the current climate, we are increasingly likely to see investors double down on growth stage FinTechs through follow-on investment and extended funding rounds. It has enabled Airwallex to retain its current valuation as other FinTechs see theirs dip. The Dunedin will be spent on its global expansion strategy.
