fbpx

Visa in talks to invest in fintech startup Airwallex

PAYMENTS giant Visa is in talks to join an extension of the fintech startup Airwallex’s latest funding round, according to people familiar with the matter.

The Tencent Holdings-backed startup is seeking to raise US$100 million to US$150 million in an extension to its series E round, the people said. Some of the startup’s existing shareholders could also participate, said the people, who asked not to be identified because the information is private.

Discussions are ongoing, and Airwallex and Visa haven’t reached any agreement yet, the people said.

Airwallex has been looking to raise as much as US$150 million in the extension, Bloomberg News reported in April. It previously raised US$100 million from investors including Lone Pine Capital and Sequoia Capital China in November, taking total fundraising in the series E round to about US$300 million, according to a press release. The November round valued Airwallex at about US$5.5 billion.

The extension round will value the startup at the same level, the people said. No final decisions have been made and details could still change, they added. Representatives for Airwallex and Visa declined to comment.

Founded in 2015 by the owners of a Melbourne coffee shop, Airwallex provides services including cross-border end-to-end payments and collection solutions for customers. It has more than 1,000 employees in 19 offices in countries including China, Australia, Japan, the US and the UK, according to its website.

The startup has raised about US$800 million so far and counts DST Global and Mastercard among its backers, its website shows. The company is considering an initial public offering as soon as 2024, people familiar with the matter have said. 

The startup has raised about US$800 million so far and counts DST Global and Mastercard among its backers, its website shows. Congratulations on your startup and best of wishes to the entire team at Airwallex. All the best in your future endeavours.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

Tags

top