Traditional banks and legacy payment providers burden businesses with high fees and slow, opaque international transaction processes. This makes it especially difficult for small and medium-sized enterprises (SMBs) to pay suppliers, receive payments, and manage cross-border finances. The founding story of Airwallex began when its creators experienced these challenges firsthand while running a coffee shop and importing coffee beans, dealing with the high costs and inefficiencies of international payments.
Today, Airwallex, a leading global payments and financial platform for modern businesses, has completed a $300 million Series F funding round at a $6.2 billion valuation. The round includes $150 million in secondary share transfers.
The new investment, which brings Airwallex’s total funding to more than $1.2 billion, includes Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, and several leading pension funds in Australia. Visa Ventures also joins as a strategic investor. Airwallex will use the additional capital to expand its global infrastructure into new markets and continue refining and scaling the software that empowers businesses to operate anywhere.
Building a financial infrastructure enabling businesses to operate globally
Airwallex was founded in 2015 in Melbourne, Australia, by five entrepreneurs: Jack Zhang (CEO), Jacob (Xijing) Dai (CTO), Max Li (Head of Design), Lucy Liu (President), and Ki Lok Wong (Principal Architect). Their journey began with their business challenges: while running a café in Melbourne and importing supplies from China, they faced steep costs, slow processes, and opaque cross-border payments. A $10,000 supply order incurred 4.5% in fees — a price they found excessive and inefficient.
This firsthand experience with international B2B payment challenges convinced them that a better solution was needed. Their vision became clear: build a financial infrastructure enabling businesses to operate globally without the barriers of legacy banking systems, high fees, or slow transactions.
“The global financial system wasn’t built for today’s borderless economy,” said Jack Zhang, co-founder and CEO of Airwallex. “Too many businesses are held back by legacy infrastructure that’s slow, costly, and fragmented. At Airwallex, we’re building a new foundation for the global economy – one that’s fast, seamless, and built for scale. This investment marks a major milestone in our journey to redefine global banking and to empower businesses everywhere to grow without limits.”
Airwallex’s mission is to create a world where businesses can operate without borders or restrictions, empowering them to grow and compete internationally. The company built proprietary infrastructure to bypass traditional, slow, and expensive banking rails, delivering fast, transparent, and cost-effective cross-border payments and financial services.
In March 2025, Airwallex achieved $720 million in annualised revenue, up 90% year over year, and exceeded $130 billion in global annualised payments volume. The company grew its customer base by 50% in 2024 and now serves 150,000 businesses worldwide. In 2025, Airwallex expects to hit $1 billion in annual run-rate revenue.
Global financial infrastructure to power the future of banking
As part of its commitment to building the future of global banking, Airwallex has built a tech-led global financial infrastructure from the ground up, with direct integrations into local clearing systems and card networks, and one of the most comprehensive licensing portfolios in fintech.
This proprietary network enables Airwallex’s customers to instantly generate local account numbers in 60+ countries and send and receive funds across more than 150 countries faster and more efficiently than traditional banks. Today, 95% of Airwallex transactions arrive within a few hours or the same day, and 68% are processed instantly.
Beyond sending and receiving funds, Airwallex’s infrastructure provides customers with a comprehensive platform to manage their business across multiple markets and currencies. With Airwallex, customers can access global business accounts, payments, spend management, platform APIs, and embedded finance.
The platform offers an all-in-one multi-currency account for global banking, foreign exchange conversion, and international money transfers, allowing users to earn attractive rates on their deposited funds. It enables businesses to accept payments online and in-store from customers worldwide using cards and over 160 local payment methods, ensuring a localised, multi-currency shopping experience.
Airwallex’s platform now features advanced AI-powered spend management capabilities, including automated expense tracking, real-time categorisation, and smart corporate cards with customisable controls and instant issuance. Businesses can also leverage new vendor management tools, streamlined bill creation, and integrations with leading accounting platforms like Xero, QuickBooks, and NetSuite.
The platform streamlines global expenditure management for businesses, including multi-currency corporate and employee cards, expense tracking, and bill payments, all powered by AI technology. It offers Airwallex’s financial services through APIs, serving tech-savvy companies and marketplaces looking to integrate and monetise financial services on their platforms.
Recent product releases include support for Discover and Diners Club payments in Australia, Europe, Hong Kong, Singapore, and the UK, expanding payment flexibility for customers in over 200 countries. Airwallex has also launched a US 1099-NEC tax filing solution for businesses paying contractors and enhanced in-app ticketing for more efficient support.
