Airwallex raises USD320m, launches products, lifting valuation to USD11b
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The news: Airwallex raised USD320 million ($462.5 million) in a Series H round, lifting the Melbourne-founded payments company’s valuation to USD11 billion, from USD8 billion last December.
The round was led by returning investor Addition, with participation from Baillie Gifford, Hummingbird, QED Investors, T Rowe Price, Hedosophia, Haun Ventures, Washington University in St Louis and Amex Ventures.
The company said the funding would accelerate product development across what it calls autonomous finance and agentic commerce, expand its infrastructure and regulatory footprint into new markets and scale the teams building its AI software.
What they said: Co-founder and chief executive Jack Zhang said the capital let Airwallex move faster into its next chapter of “autonomous finance, agentic commerce, and the infrastructure to power both.”
Alongside the raise, Airwallex unveiled two products. T:0, a platform that automates bookkeeping, forecasting, taxes, compliance and reporting, currently in private beta. And Airi, a consumer wallet incorporating a one-click checkout that lifted successful checkout conversions for digital merchants by up to 14% in early testing.
The context: Airwallex has long been expected to float on US markets, but the timing now sits behind two open questions. The company remains under investigation by Austrac over its anti-money-laundering compliance, with an auditor’s report due soon.
Separately, the company faces persistent US scrutiny of its China ties after venture capitalist Keith Rabois branded it a “Chinese backdoor” into sensitive American data in December. Zhang denies the claim and has since published a detailed rebuttal, relocated roughly 100 roles out of China and pledged to spend more than USD1 billion in the US through 2029. He has noted Tencent holds a passive stake under 10% with no board seat.
The numbers: The company reported USD1.3 billion in annualised revenue in March 2026, up 74% year-on-year, and USD287 billion in annualised transaction volume, up more than 120%.
More than 90% of revenue comes from customers using more than one product, it said.
The source: Airwallex
