Airwallex Secures $11 Billion Valuation with Latest Funding Round, Eyes Expansion in AI-Powered Finance

Airwallex, a leading global payments company, has raised $320 million in a Series H funding round, propelling its valuation to $11 billion. This marks a significant 38% increase from its valuation just six months prior. The funding round, led by New York-based venture capital firm Addition, saw participation from prominent investors including Baillie Gifford, Hummingbird, and QED Investors. Airwallex's annualized revenue has surged 74% to $1.

3 billion, with annualized transaction volume more than doubling. Notably, over 90% of its revenue stems from customers utilizing multiple Airwallex products. The company plans to utilize the fresh funds to accelerate product development in autonomous finance and agentic commerce, expand its regulatory footprint, and bolster its teams working on next-generation AI-native financial software. Airwallex provides multi-currency payment services to prominent global businesses and has obtained over 85 licenses across key regions.

The company has also unveiled two new AI-focused products, T:0 and Airi, designed to automate corporate finance functions and support delegated agent payments, respectively. With this investment, Airwallex's co-founder and CEO Jack Zhang aims to propel the company into its next chapter, leveraging its extensive infrastructure to support the emerging agentic economy. As the company continues to grow, it has faced scrutiny over its ties to China, which it has vehemently denied, emphasizing the security and storage of its American customers' data within the U. S.

Source: CNBC