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Airwallex Raises $330 Million, Valuation Climbs to $8 Billion

Airwallex Raises $330 Million, Valuation Climbs to $8 Billion

CEO Jack Zhang reiterates Stripe’s rejected $1.2B offer in 2018 as Airwallex now reaches $1B in annual recurring revenue, securing $8B valuation via its latest funding round.

Summary

In an official statement, Airwallex CEO Jack Zhang confirmed that Stripe had offered $1.2 billion to acquire the fintech in 2018, when annual revenue stood at $2 million. The offer was declined, and Airwallex has since grown its annual recurring revenue to $1 billion. The company recently closed a $330 million funding round, valuing it at $8 billion, with Addition leading the investment alongside Activant, Lingotto, and TIAA Ventures.

Terms & Concepts
  • Fintech: Technology-driven financial services companies offering innovative products such as digital payments, lending, and money transfers.
  • Funding Round: A stage in a company’s capital-raising process where investors provide financing in exchange for equity or debt.
  • Valuation: An estimate of a company’s monetary worth based on investor funding and market conditions.