Airwallex, a Melbourne-based cross-border financial startup that accomplished”unicorn” status last year, announced today that it has actually raised a$ 160 million Series D. The round consisted of ANZi Ventures, the investment arm of ANZ Bank, and Salesforce Ventures, along with returning financiers DST Global, Tencent, Sequoia Capital China, Hillhouse Capital and Horizons Ventures.
Established in 2015, the company’s monetary services consist of foreign currency accounts that let businesses receive money from all over the world. Airwallex’s system utilizes inter-bank exchanges to trade foreign currencies at a mid-market rate and targets companies that do service in a number of different countries. The new funding will be utilized on prospective acquisitions; growth in American, European and Middle Eastern markets; and the launch of brand-new products, consisting of payment acceptance tools.
Airwallex reached a valuation of more than$1 billion last year when it closed its Series C financing, and has now raised a total of $360 million. Because that round, it has introduced brand-new operations in Tokyo, Bangalore and Dubai, and introduced products consisting of Airwallex Borderless Cards in partnership with Visa and combination with accounting platform Xero. The company also now uses an API that enables business to provide their own virtual cards.
In a press statement, Salesforce Ventures’ head of Australia Rob Keith stated, “Being able to negotiate and do business with clients all over the world is an essential criteria for business who are going through a digital transformation. We’re excited to partner with Airwallex at this critical time in its growth, expanding both its footprint globally and its product abilities.”
Other start-ups that have actually also raised funding to assist small to medium-sized services deal with the difficulties of doing sell various currencies include Brex, another unicorn, and Hong Kong-based Neat. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.