Categories: Business

Australian FinTech unicorn raises US$160 million with ANZ backing

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Australian fintech unicorn Airwallex has recently raised over US$160 million [AU$251] from investors through a Series D fundraising round.

According to reports, the round was led by ANZi Ventures, the venture capital arm of the Australia and New Zealand Banking Group (ANZ), and software company Salesforce.

The two add to the existing investors, which include the following:

  • Tencent
  • Sequoia Capital China
  • DST Global
  • Horizons Ventures
  • Hillhouse Capital

The RippleNet member received a $1 billion valuation last year, which ranked it as Australia’s second unicorn alongside graphic design firm, Canva.

Airwallex will allocate the funds to accelerate its growth in the U.S., Europe, and new markets. It will also expand its payments platform and seek to acquire other assets in the payments industry.

The firm, which was started out of a Melbourne café, has already opened offices in Tokyo, Bangalore, and Dubai and has eyes on further expansion.

Chief executive Jack Zhang remains confident about growth in online payments, stating:

“From the very beginning, our vision has been to lead the transformation of global financial infrastructure.”

Ron Spector, managing director of ANZi Ventures, said Airwallex was one of Australia’s FinTech leaders and the investment was strategic for the bank.

Featured image courtesy of Annie Spratt/Unsplash

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

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