On Thursday, Airwallex announced it had raised an additional US$100 million in a Series E1 funding round, raising its valuation to US$5.5 billion just two months after the company announced an oversubscribed Series E round.

This latest round brings Airwallex’s total Series E fundraising to US$300 million, with a total of US$802 million raised.

Lone Pine Capital remained the lead for this funding, along with other existing investors including 1835i Ventures, ANZ’s venture capital partner, and Sequoia Capital China.

Airwallex posted a strong performance in the third quarter, recording a 165 percent year-over-year increase in revenue, with annual revenue exceeding US$100 million. The company also made more than 200 additional hires as it continued to strengthen its presence in its core markets globally.

"Our record performance last quarter demonstrates the tremendous demand from customers looking for better solutions to manage their businesses," said Jack Jahn, co-founder and CEO of Airwallex.

“As we approach our sixth anniversary, we want to continue connecting entrepreneurs, business builders and makers with opportunities in every corner of the world. This new capital injection will allow us to do just that, fueling M&A opportunities that will accelerate our global expansion plans in pursuit of our mission to enable businesses to grow without borders."

Maja Garatsa Djurdjevic

Maya's career in journalism spans more than a decade in finance, business and politics. Now an experienced editor and reporter in all elements of the financial services sector, before joining Momentum Media, Maya reported for several established news outlets in South East Europe, looking at key processes in post-conflict societies.