Alibaba Entrepreneurs Fund Invests In Chinese Cross-Border Fintech Firm Airwallex

Airwallex, a Hong Kong-based cross-border payment solution provider, announced that it has closed a series D+ fundraising round from Alibaba Entrepreneurs Fund.

Airwallex claimed that Alibaba Entrepreneurs Fund will accelerate the company’s expansion of products, service scale and ecosystem, especially business growth in the Greater China region.

Started in 2015 by four Chinese founders in Melbourne, Airwallax primarily provides platform-based enterprises with integrated cross-border payment solutions to meet the needs of B2B and B2C markets. At present, Airwallex’s services include seven areas such as cross-border e-commerce, online travel, logistics, international education, financial institutions, digital marketing, and online entertainment.

Previously, Airwallex completed a US$160 million series D round financing in April this year. Investors included ANZi Ventures, Salesforce Ventures, DST Global, Tencent Holdings, Sequoia Capital China, Hillhouse Capital and Horizons Ventures.

The company currently has ten offices worldwide, including Hong Kong, Melbourne, Shanghai, Shenzhen, Beijing, Singapore, London, San Francisco, Tokyo and Bangalore.

"Faced with the current coexistence of uncertainty and crisis, traditional enterprises seek online development, and domestic e-commerce companies aim at global opportunities to develop cross-border e-commerce. The market calls for a new generation of global financial solutions adapted to the digital ecology,” said Kai Wu, CEO of Airwallex Greater China. “Airwallex is committed to establishing cross-border financial infrastructure, using technology to change cross-border payments, and helping modern companies achieve global operations and development. The support from Alibaba Entrepreneurs Fund gives us the ability to further integrate the entire cross-border payment chain to meet growing customer demand. We hope to work with more partners to build cross-border financial infrastructure to serve our customers in a more efficient and safe manner."

 
China Expert network

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