Funding round
Airwallex Series C
Airwallex, which works in global payments processing in Singapore, raised $100M in a Series C round announced on 26 Mar 2019, led by DST Global, at a $1.00B post-money valuation. 7 firms took part. It is Airwallex's fourth venture round on record; the one before was a Series B in Jul 2018.
$100M
Amount raised
$1.00B
Post-money valuation
7
Investors
1 lead
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Airwallex at $1.00B after the new money. The $100M bought investors about 10% of the company. It came 8 months after Airwallex's Series B. It is 7.4% of the $1.35B Airwallex has raised in the venture rounds on record. Airwallex raised again 24 months later: a Series D round of $100M in Mar 2021, at $2.60B 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 3 Jul 2018, led by Tencent and HSG $80M
- Series C this round 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
DST Global led the round with 6 other firms.
Lead investor
- DST Global backs 179 venture-backed companies new investor
Also in the round
- HSG backs 118 venture-backed companies new investor
- Tencent new investor
- Hillhouse Capital new investor
- backs 56 venture-backed companies new investor
- backs 97 venture-backed companies new investor
- backs 55 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
14 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $75M, and this round was 1.3 times the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 16 Jan 2019 | $100M | not disclosed | Warburg Pincus |
| Plaid Payment Processing & Point of Sale | 11 Dec 2018 | $250M | $2.65B | Kleiner Perkins |
| Payment Processing & Point of Sale | 20 Dec 2018 | $125M | not disclosed | not named |
| Razorpay Payment Processing & Point of Sale | 18 Jun 2019 | $75M | not disclosed | Ribbit and Sequoia Capital |
| Payment Processing & Point of Sale | 13 Nov 2018 | $100M | not disclosed | Elavon and National Australia Bank |
| Payment Processing & Point of Sale | 19 Nov 2018 | $27M | not disclosed | Kleiner Perkins |
| Payment Processing & Point of Sale | 5 Oct 2018 | $125M | $1.10B | Greenoaks Capital and DST Global |
| Rapyd Payment Processing & Point of Sale | 1 Oct 2019 | $100M | $1.00B | Oak HC/FT |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Airwallex raise in its Series C round?
Airwallex raised $100M in its Series C round, announced in Mar 2019.
Who led Airwallex's Series C round?
DST Global led it, with HSG, Tencent, Hillhouse Capital, Gobi Partners and Horizons Ventures and 1 more.
What was Airwallex's valuation at the Series C round?
$1.00B post-money.
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
14 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $75M, and this round was 1.3 times the median.
Did Airwallex raise again after this round?
Yes: a Series D round in Mar 2021 of $100M at $2.60B post-money.