Australian fintech unicorn and RippleNet member, Airwallex, raised $160 million in a fundraising spherical led by the funding arms of Australian ‘
Australian fintech unicorn and RippleNet member, Airwallex, raised $160 million in a fundraising spherical led by the funding arms of Australian ‘huge 4’ financial institution, ANZ, and San Francisco-based cloud software program firm, Salesforce.
Current traders Tencent, Sequoia Capital China, DST World, and Horizons Ventures additionally participated within the spherical — bringing the entire raised to-date by the cross-border funds platform to $362 million as of April 16.
Aussie fintech unicorn raises $160 million
Airwallex will direct the funds into increasing its world footprint, with Europe and america amongst its subsequent goal markets. Airwallex additionally launched workplaces in Tokyo, Bangalore, and Dubai final 12 months.
In March 2019, Airwallex acquired a $1 billion valuation — rating it as Australia’s second unicorn alongside graphic design agency, Canva. Australia is presently dwelling to a few unicorns, with aerial imagery firm, Nearmap, just lately becoming a member of the checklist.
Ron Spector, ANZi Ventures managing director, said that the financial institution is “look[ing] ahead to working additional with the group to help their imaginative and prescient of constructing a next-generation digital funds platform for SMBs and enterprises globally.”
Airwallex grew out of a restaurant owned by the corporate’s co-founders in Melbourne’s Docklands. After struggling to seek out an environment friendly approach to pay exporters in Hong Kong and China for espresso cups in 2015, the pair teamed up with three mates from Melbourne College to launch the startup.
RippleNet expands world community
Airwallex’s elevate comes amid an growing world growth of RippleNet.
On April 15, Ripple introduced a partnership with Malaysian funds agency, MoneyMatch. The agency now affords cross-border remittance to over 120 nations via RippleNet.
On April 9, Thailand’s oldest monetary establishment, Siam Business Financial institution, launched a partnership with digital funds firm, Azimo, to supply near-instant worldwide remittances utilizing RippleNet.
Regardless of nice pleasure relating to Ripple’s partnership with main Mexican remittance platform Intermex, a March earnings name revealed that the agency will solely use RippleNet to service new markets.