Singapore-based payments firm Airwallex is reportedly in discussions to raise $200 million at a valuation of $6 billion, according to Bloomberg.
Founded in Australia in 2015, Airwallex specializes in global bill payments, expense management, and multi-currency debit cards for its 100,000 business clients. The company has been rapidly expanding into Hong Kong, Japan, North America, and Europe, employing over 1,600 people.
Additionally, Airwallex is investing significantly in artificial intelligence and has recently obtained an online business license in China, which positions it for entry into a vast new market. Bloomberg reports that Airwallex, which has Tencent as an investor, is in negotiations with potential backers for this funding round as part of its continued growth strategy, leading up to a potential IPO in 2026.
Discover new challenges and opportunities that artificial intelligence brings to the banking sector at Finextra’s first NextGenAI conference on November 26, 2024. Register your interest here.