Funding round
Airwallex Series B
Airwallex, which works in global payments processing in Singapore, raised $80M in a Series B round announced on 3 Jul 2018, led by Tencent and HSG. 7 firms took part, 3 of them already investors. It is Airwallex's third venture round on record; the one before was a Series A in May 2017.
$80M
Amount raised
Not disclosed
Post-money valuation
7
Investors
2 leads
Valuation
What this round says about the price
Airwallex did not disclose a valuation in this round. It came 14 months after Airwallex's Series A. It is 5.9% of the $1.35B Airwallex has raised in the venture rounds on record. Airwallex raised again 8 months later: a Series C round of $100M in Mar 2019, at $1.00B post-money.
Airwallex's funding rounds
Airwallex has 9 venture rounds on record and 1 other deal. This one is highlighted.
- Pre-seed 5 Jul 2016, led by Gobi Partners $3.0M
- Series A 1 May 2017, led by Tencent Holdings $13M
- Other not a venture round 15 Dec 2017 $6.0M
- Series B this round 3 Jul 2018, led by Tencent and HSG $80M
- Series C 26 Mar 2019, led by DST Global $100M$1.00B post-money
- Series D 23 Mar 2021, led by Greenoaks $100M$2.60B post-money
- Series E 10 Oct 2022 $100M$5.50B post-money
- Series F 21 May 2025, led by Square Peg $300M$6.20B post-money
- Series G 8 Dec 2025, led by Addition $330M$8.00B post-money
- Series H+ 25 Jun 2026, led by Addition $320M$11.00B post-money
Investors
Who put money in
Tencent and HSG led the round with 5 other firms. Tencent, HSG and Mastercard had backed Airwallex before.
Lead investors
- Tencent existing investor
- HSG backs 118 venture-backed companies existing investor
Also in the round
- Hillhouse backs 54 venture-backed companies new investor
- backs 97 venture-backed companies new investor
- backs 8 venture-backed companies new investor
- backs 55 venture-backed companies new investor
- Mastercard existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
31 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $18M, and this round was 4.4 times the median. The closest in time, other companies' Series B rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Satispay Payment Processing & Point of Sale | 23 Jul 2018 | $12M | $117M | Copper Street Capital |
| Payment Processing & Point of Sale | 19 Jul 2018 | $7.5M | not disclosed | Northzone |
| Payment Processing & Point of Sale | 19 Jun 2018 | $50M | $220M | not named |
| Payment Processing & Point of Sale | 18 Jun 2018 | $18M | not disclosed | not named |
| Payment Processing & Point of Sale | 13 Sep 2018 | $24M | not disclosed | Sequoia India |
| Qonto Payment Processing & Point of Sale | 24 Sep 2018 | $23M | not disclosed | Valar Ventures and Alven |
| Payment Processing & Point of Sale | 6 Sep 2018 | $16M | not disclosed | Partech |
| Payment Processing & Point of Sale | 6 Sep 2018 | $10M | not disclosed | Global Innovation Fund |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Airwallex raise in its Series B round?
Airwallex raised $80M in its Series B round, announced in Jul 2018.
Who led Airwallex's Series B round?
Tencent and HSG led it, with Hillhouse, Horizons Ventures, Central Capital Ventura, Square Peg and Mastercard.
What was Airwallex's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Payment Processing & Point of Sale?
31 Series B rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $18M, and this round was 4.4 times the median.
Did Airwallex raise again after this round?
Yes: a Series C round in Mar 2019 of $100M at $1.00B post-money.