Funding round
Airwallex Series D
Airwallex, which works in global payments processing in Singapore, raised $100M in a Series D round announced on 23 Mar 2021, led by Greenoaks, at a $2.60B post-money valuation. 4 firms took part. It is Airwallex's fifth venture round on record; the one before was a Series C in Mar 2019.
$100M
Amount raised
$2.60B
Post-money valuation
$2.50B pre-money
4
Investors
1 lead
2.6x
Step-up from the Series C
$1.00B in Mar 2019
3.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Airwallex at $2.60B after the new money, 2.6 times the $1.00B of its Series C (Mar 2019). The $100M bought investors about 3.8% of the company. It came 24 months after Airwallex's Series C. It is 7.4% of the $1.35B Airwallex has raised in the venture rounds on record. Airwallex raised again 19 months later: a Series E round of $100M in Oct 2022, at $5.50B 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 26 Mar 2019, led by DST Global $100M$1.00B post-money
- Series D this round 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
Greenoaks led the round with 3 other firms.
Lead investor
- Greenoaks backs 77 venture-backed companies new investor
Also in the round
- Grok Ventures new investor
- backs 30 venture-backed companies new investor
- ANZi Ventures new 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
21 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $200M, and this round was 50% of the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 31 Mar 2021 | $120M | not disclosed | JS Capital Management LLC and Soros Capital Management LLC |
| Payment Processing & Point of Sale | 1 Apr 2021 | $425M | $7.40B | Tiger Global |
| Plaid Payment Processing & Point of Sale | 7 Apr 2021 | $425M | $13.40B | Altimeter and Silver Lake |
| Greenlight Payment Processing & Point of Sale | 27 Apr 2021 | $260M | $2.30B | Andreessen Horowitz |
| CRED Payment Processing & Point of Sale | 6 Apr 2021 | $215M | $2.20B | Alpha Wave Global and Coatue |
| BharatPe Payment Processing & Point of Sale | 12 Feb 2021 | $108M | $900M | Coatue |
| Payment Processing & Point of Sale | 28 Apr 2021 | $80M | not disclosed | Tencent and European Bank for Reconstruction and Development |
| Payment Processing & Point of Sale | 8 Apr 2021 | $70M | not disclosed | Addition |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Airwallex raise in its Series D round?
Airwallex raised $100M in its Series D round, announced in Mar 2021.
Who led Airwallex's Series D round?
Greenoaks led it, with Grok Ventures, Skip Capital and ANZi Ventures.
What was Airwallex's valuation at the Series D round?
$2.60B post-money ($2.50B pre-money).
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
21 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $200M, and this round was 50% of the median.
Did Airwallex raise again after this round?
Yes: a Series E round in Oct 2022 of $100M at $5.50B post-money.