FINTECH STARTUP AIRWALLEX SEES SERIES A CAPITAL RAISE SOAR TO US$19M AFTER TOP-UP INVESTMENT

Cross-border payments startup Airwallex has received a US$6 million investment from VC firm Square Peg, bringing its total Series A capital raise to US$19 million

The Melbourne-based fintech company previously closed its Series A funding round in May, having raised a combined US$13 million from Mastercard, Sequoia Capital China and the world’s fourth largest internet company, Tencent Holdings. The top-up Series A investment from Square Peg comes in the wake of Airwallex’s debut on the coveted Fintech100 list last month. Prior to 2017, Airwallex had secured US$3 million in pre-Series A funding from Gobi Partners.

In conversation with Dynamic Business, Co-founder and CEO Jack Zhang explained why Square Peg is a “great cultural fit” for Airwallex. He also discussed his plans for the additional Series A funding and the vision that has fuelled his startup’s success.

DB: How did the deal with Square Peg come about?

Zhang: We weren’t actively seeking additional funding for Airwallex; rather, an opportunity to partner with Square Peg – one of the biggest and best VCs in the Australian market – presented itself and it was just too good to pass up.  Read more

James Harkness - Dynamic Business - 18 Dec 2017