Australian ‘Unicorn’ Airwallex Secures $160 Million

Airwallex, a Melbourne-based Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company, has closed its Series D funding round, raising $160 million.

Announced on Thursday, the round witnessed participation from ANZi Ventures, the corporate venture arm of ANZ bank, and Salesforce Ventures, along with existing investors including DST Global, Tencent, Sequoia Capital China, Hillhouse Capital, and Horizons Ventures.

Founded in 2015, the company has gained “Unicorn Unicorn Unicorns represent privately held startup companies whose value exceeds $1 billion. The term itself was coined by venture capitalist Aileen Lee back in 2013, with Unicorns since assuming the gold standard of companies.At the time of writing, approximately 465 unicorns exist, with standouts becoming ubiquitous in everyday life. This includes Ant Financial, DiDi, Airbnb, Stripe, Lyft, and Palantir Technologies, among many others.While all wildly successful, many unicorns are themselves the product Unicorns represent privately held startup companies whose value exceeds $1 billion. The term itself was coined by venture capitalist Aileen Lee back in 2013, with Unicorns since assuming the gold standard of companies.At the time of writing, approximately 465 unicorns exist, with standouts becoming ubiquitous in everyday life. This includes Ant Financial, DiDi, Airbnb, Stripe, Lyft, and Palantir Technologies, among many others.While all wildly successful, many unicorns are themselves the product Read this Term” status for its cross-border financing business, including foreign currency accounts that allow businesses to receive money from anywhere, targeting companies with business in multiple countries.

The recent funding round has put the total equity raised value to $362 million.

Pushing for a global presence

The announcement also detailed that the proceeds from the fresh round will be utilized in the expansion of its business in new markets like the United States, Europe, and the Middle East; potential acquisitions; and launching new products.

Notably, following the Series C round of the Australian startup, it expanded its operations in three cities - Tokyo, Bangalore, and Dubai. It also enhanced its product capabilities, including the launch of Airwallex Borderless Cards in partnership with Visa and a highly-requested integration with accounting software Xero.

The company is also set to introduce its newly introduced products in Hong Kong this year.

“The global shift to digital is imminent. We envision a world in the not too distant future where all businesses will operate and conduct their affairs online – including banking – with the help of modern tools,” Jack Zhang, co-founder and CEO of Airwallex, said.

“From the very beginning, our vision has been to build a global financial infrastructure – by developing the Airwallex platform with fast and agile technology, continually improving our product and investing in dedicated support teams. More than ever, we are well-positioned to support businesses, no matter their size as they adapt to today’s changes.”