Cross-border payments challenger Airwallex has confirmed its unicorn status by passing a $1bn valuation through its latest funding round.
The company $100m Series C round was led by DST Global, which has previously backed fintech companies including Nubank and Robinhood.
Participants from Airwallex previous rounds also returned for the Series C fundraising, including Sequoia Capital China, Tencent, Hillhouse Capital, Gobi Partners, Horizons Ventures and Square Peg Capital.
Airwallex said the new capital would be used to expand its suite of international collection and payment products and to support global expansion into the US, Europe and Southeast Asia.
The business, which was founded in Australia in 2015,?offers an end-to-end solution for businesses to make payments and move money programmatically on a global scale, supporting a client base including JD.com, Tencent and Ctrip, and large financial service companies including MasterCard.
It aims to allow clients to?quickly create global accounts with local bank details, access interbank exchange rates and send money through local and international clearing networks to more than 130 countries.
The round brings Airwallex total capital raised to over $200m.
Airwallex co-founder and CEO Jack Zhang said, ?We started Airwallex because we knew there was a better way to make global payments.
?Airwallex is proud to free businesses from many of the traditional barriers that have made international transactions so difficult.
?Our mission is to build a worldwide, technology-driven financial infrastructure that will help our customers including marketplaces, online sellers and SMEs grow their businesses globally.p>
DST Global managing partner Tom Stafford added, ?The growing e-commerce industry needs a technology-focused payments network that is reliable, cost-effective and provides data transparency.
?Airwallex has built such as network and we are excited to partner with Jack and the team as they continue to grow their business.p>
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