Airwallex raises $387m in Series F funding for expansion plans

The company plans to use the funds to expand into Japan, Korea, the UAE, and Latin America.

Singapore-based Airwallex has completed a $387m (US$300m) Series F funding round, bringing its valuation to $8b (US$6.2b).

The round includes $193.5m (US$150m) in secondary share transfers.

This will fund expansion into markets including Japan, Korea, the UAE, and Latin America, whilst boosting sales efforts in Europe, North America, and Southeast Asia.

Airwallex has reported growth in the Americas and EMEA regions over the past four years, with gross profit growing at a CAGR of more than 250% in both regions.

In the Middle East, it recently hired staff in the UAE—both in Abu Dhabi and Dubai—and is expanding its presence in Israel.

The new investment, which brings Airwallex’s total funding to more than $1.5b (US$1.2b), includes Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, and several pension funds in Australia. Visa Ventures also joins as an investor.

($1 = US$0.78)