Latest news with #VisaVentures
Finextra
22-05-2025
- Business
- Finextra
Airwallex hits $6.2bn valuation
Airwallex has raised $300 million in a Series F funding round that values the payments firm at $6.2 billion. 0 Visa Ventures joined as a strategic investor, with Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, and Salesforce Ventures also participating in the round, which includes $150 million in secondary share sales. Founded in Australia in 2015, Airwallex provides bill payments for companies that operate globally, expense management and multi-currency debit cards for its 150,000 business clients. The firm has been expanding fast, hitting $720 million in annualised revenue in March 2025, up 90% year-over-year. Founded in Singapore, it has been pushing into the Americas and Emea, recently moving into a permanent US headquarters in San Francisco and opening offices in New York, Toronto and Paris. The funding will be used to continue expanding its financial infrastructure into new markets including Japan, Korea, the UAE, and Latin America, and to accelerate go-to-market efforts in Europe, North America, and South East Asia. Jack Zhang, CEO, Airwallex, says: 'Too many businesses are held back by legacy infrastructure that's slow, costly, and fragmented. At Airwallex, we're building a new foundation for the global economy - one that's fast, seamless, and built for scale."
Business Times
21-05-2025
- Business
- Business Times
Airwallex raises US$300 million in Series F funding round
[SINGAPORE] Airwallex has raised US$300 million in a Series F funding round with Visa's corporate venture arm Visa Ventures coming on board as an investor, it announced on Wednesday (May 21). This brings the fintech startup's valuation to US$6.2 billion. Other investors in the round include Square Peg, DST Global, Salesforce Ventures and a number of other Australian venture capital and pension funds. Of the US$300 million raised, US$150 million was in secondary share transfers, cashing out earlier investors. The financial platform that manages payments and business accounts reported a 50 per cent growth in its customers base in 2024, serving 150,000 businesses worldwide. Airwallex has more than 60 licences and over 50 relationships with banks and financial institutions. The company currently employs over 1,700 people in 26 offices globally. Airwallex expects to hit US$1 billion in annual run rate revenue in 2025. The funding will be used to expand into new markets and build new features on Airwallex's platform. The fintech is moving into non-payment products and services such as spend management, money market funds and artificial intelligence (AI), Lucy Liu, president and co-founder of Airwallex, told The Business Times. 'Going forward, the Middle East and some of the other South-east Asian countries will be our primary focus,' she said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Airwallex has started to invest in Vietnam, and its priority is to strengthen its capabilities there. This would include building out the local team to establish a presence in the country. In Malaysia, Airwallex is looking to further expand its capabilities and onboard more Malaysian companies. Indonesia remains on the company's radar, and is close to establishing a physical presence there, said Liu. She is not ruling out further fundraising, with this Series F round a means to update Airwallex's valuation and not so much a pre-inital public offering (IPO) round. The company last raised US$100 million at US$5.6 billion valuation back in October 2022, as part of a Series E extension round. 'If you compare that to the current valuation that we have now, it is not a massive round; we are on the path to get ourselves pre-IPO ready,' she added. Airwallex is still targeting to list in the US, but has not narrowed down whether it would be a Nasdaq or New York Stock Exchange listing. AI will be a top priority for Airwallex over the next 12 months. This would see the company build 'AI capabilities into our operations, as well as customer-facing functionalities', said Liu.
Yahoo
07-05-2025
- Business
- Yahoo
Visa invests in stablecoin payments firm BVNK
Visa, through its Visa Ventures division, has invested in South Africa-based stablecoin payments firm BVNK. BVNK offers stablecoin payments infrastructure through a single API platform that connects banks and blockchains. The platform allows businesses to send, receive, convert, and store both stablecoins and fiat currencies across multiple payment systems and blockchains. The company currently processes approximately $12bn in stablecoin payments annually, BVNK said in a blog post. It has secured more than 15 regulatory licences, according to its website. BVNK's recent expansion into the US market has been marked by the opening of new offices in San Francisco and New York, with leadership including Amit Cheela, a former executive at BlockFi, and Keith Vander Leest, previously with Cross River. This investment follows BVNK's $50m Series B funding round in December, which saw participation from industry players like Haun Ventures, Coinbase Ventures, and Tiger Global, among others. BVNK CEO & co - founder Jesse Hemson Struthers said: 'Visa's deep expertise in building global payment networks, combined with our stablecoin infrastructure, creates powerful possibilities for redefining how businesses operate in today's digital economy.' As Rubail Birwadker, Head of Growth Products and Partnerships, Visa, shared: 'Stablecoins are fast becoming a part of global payment flows, and Visa invests in new technologies and builders like BVNK, staying at the forefront of what's next in commerce to better serve our clients and partners.' Visa posted a net income of $4.56bn for the second fiscal quarter of 2025, down from $4.66bn reported in the same period of the previous year. "Visa invests in stablecoin payments firm BVNK " was originally created and published by Electronic Payments International, a GlobalData owned brand.
