San francisco: Airwallex, a global financial platform for modern businesses, has successfully raised US$330 million in its Series G funding round, elevating its valuation to US$8 billion. This marks a significant 30 percent increase since its Series F funding six months prior, underscoring the company's rapid growth and market influence.
According to BERNAMA News Agency, the new investment aims to propel Airwallex's expansion in the United States and other pivotal global markets, while bolstering hiring and product development, particularly in the field of artificial intelligence. Jack Zhang, Co-founder and CEO of Airwallex, emphasized the company's vision for a borderless, real-time, and intelligent global banking future, positioning Airwallex as a modern alternative to traditional providers.
The Series G funding round was spearheaded by Addition, with significant contributions from T. Rowe Price, Activant, Lingotto, Robinhood Ventures, and TIAA Ventures. Lee Fixel from Addition remarked on Airwallex's transformative impact on the global business banking landscape, highlighting the company's unique position to meet the needs of borderless businesses through its global financial infrastructure and AI capabilities.
In conjunction with the funding announcement, Airwallex revealed the establishment of its second global headquarters in San Francisco, a strategic move to anchor its core product, engineering, strategic partnerships, and go-to-market teams in a major AI innovation hub. The US market remains a central focus of Airwallex's global strategy, with plans to expand its US workforce to over 400 employees and double its office space in San Francisco within the next year.
Founded in Australia in 2015, Airwallex has quickly grown to employ over 2,000 people worldwide, with ambitious plans for a 50 percent increase by the end of 2026. This growth trajectory supports ongoing investments in infrastructure and global partnerships, with a specific emphasis on developing AI-driven financial workflows. The company's first AI product, an 'Expense Submission Agent,' is already operational within its expense management platform, with more AI capabilities slated for release soon.
Airwallex serves more than 200,000 companies globally, ranging from startups to large public enterprises, offering a comprehensive suite of financial products powered by a robust regulatory framework with 80 licenses across North America, Europe, the Middle East, and the Asia-Pacific region. Headquartered in both San Francisco and Singapore, Airwallex continues to expand its global footprint with a presence in 26 offices worldwide.