This latest round of funding was led by Lone Pine Capital, flanked by new investors G Squared and Vetamer Capital. Along with these came additional funding from existing investors including 1835i Ventures (formerly ANZi), DST Global, Salesforce Ventures and Sequoia Capital China.

“We are thrilled to welcome Lone Pine Capital and our new investors from Silicon Valley,” said Jack Zhang, co-founder and CEO of Airwallex.

“Their extensive experience, foresight and successful industry history are significant endorsements of our business and global growth strategy.”

It said the investment would continue to support the company's global expansion, along with driving progress on product development initiatives and catalyzing growth in its sales and commercial teams.

As a result, Airwallex will use the opportunity provided by the additional funding to expand its offering to SMEs and larger enterprises.

"From the beginning, our vision has been to build a global financial operating system that will enable modern business to operate without borders," added Mr Zhang.

"This additional capital allows us to increase our presence in North America, the United Kingdom, Europe and other new markets, including the Middle East, South America and Southeast Asia, and become a dominant leader in global payments."

The latest round of funding follows significant business expansion over the past year, with the company recording annual revenue growth of nearly 150 percent for the first half of 2021. and processed more than US$20 billion for a global client portfolio.

As Airwallex's customer base grew, names such as GOAT, Papaya Global and Stake emerged.

David Craver, managing director of Lone Pine Capital, said Airwallex's "clear competitive advantage" was key to the firm's decision to lead the latest round of funding.

“That's it [Airwallex’s] unique Asia-Pacific roots combined with its innovative infrastructure, products and services speak volumes for the business's global growth opportunities and its impressive expansion in the competitive payment provider space,” he said.

"We are excited to invest in Airwallex at this dynamic time and look forward to helping the company expand and succeed globally."

The latest investment in Airwallex follows an extended Series D capital raise in March, which helped the firm double its headcount in 2021. and contributed to the launch of a series of new products in new geographies.

The company has secured more than US$700 million in investment since its inception in 2015.