Singapore-headquartered payments platform Airwallex has raised $330 million in a Series G funding round led by New York VC firm Addition at a valuation of $8 billion.
Activant, T Rowe Price Associates, Lingotto, Robinhood Ventures, and TIAA Ventures also participated in the round.
The new valuation is a 30% increase on the $6.2 billion valuation the company achieved following its Series F funding round in May, which saw Airwallex raise $300 million. The company has now raised around $1.5 billion in total funding to date.
With an annualised transaction volume of approximately $235 billion, Airwallex continues to expand its US operations. This expansion includes the opening of a second headquarters in San Francisco, established by Airwallex in conjunction with its Series G, alongside efforts to increase its regional headcount to over 400 employees over the next 12 months.
This hiring drive will complement company plans to more than double its existing global team of over 2,000 people by the end of 2026.
Airwallex, founded in Australia in 2015, has already extended its footprint to 12 new markets this year, including new licenses and product launches in France, the Netherlands, Israel, Canada, South Korea, Japan, New Zealand, Malaysia, Brazil, Mexico, the UAE, and Vietnam, where the company acquired CTIN Pay in March.
On the product side, the company has announced a series of developments with agentic AI, launching an expense submission agent this week with an adjoining expense policy agent to follow “in the coming weeks”, according to a statement.
Airwallex states that this proposed suite of spend agents will be designed to provide “stronger controls, significantly fewer manual workflows, and shorter month-end cycles for customers”, ultimately “laying the foundation for a fully autonomous finance department”.
The platform currently supports around 200,000 companies with expense management and automated accounts payable solutions, corporate cards, multi-currency accounts, and cross-border transfers, among other services. The fintech notably purchased San Francisco-based billing platform OpenPay in September.
Source: https://www.fintechfutures.com/
