Few weeks after announcing its partnership with Visa to launch payment card, Australia-based fintech company Airwallex which happens to be a member of RippleNet, announced April 16 that it raised a $160 million in Series D funding to develop more cross-border financial products.
Firms that partook in the funding include Salesforce Ventures and ANZi Ventures. Other companies in the round are returning investors that include Horizons Ventures and DST Global.
On partnering with Visa, Airwallex CEO Jack Zhang noted that the collaboration would help the company in offering businesses an end-to-end financial services solution. Hence, the latest $160 million Series D achievement, will assist the company further in achieving its aims.
Airwallex was founded in 2015, it joined RippleNet in 2017 along with TransferGo, dLocal and some other companies. The Australia-based firm offers foreign currency accounts services, allowing businesses to get money from their partners across the globe.
While the latest funding would be channeled towards development and expansion in Europe, America and some other areas, Ariwallex uses RippleNet to execute corporate transactions in the Asia Pacific region.
Also, Airwallex would be looking forward to developing new products and tools to enhance its services to customers.
According to TechCrunch, the Salesforce Ventures’ head of Airwallex in Australia, Rob Keith, said, “Being able to transact and do business with customers all over the world is a key criteria for companies who are going through a digital transformation. We’re excited to partner with Airwallex at this critical time in its growth, expanding both its footprint globally and its product capabilities.”
