Airwallex facilitates cross-border transactions for businesses. Founded in 2015 by Jack Zhang, Jacob Dai, and Lucy Yueting Liu, the fintech startup has already completed five funding rounds for a total funding amount of $102 million — the most recent funding round bringing in the bulk of that.
I’m thrilled to today announce the successful completion of our Series B fundraising with USD $80m – one of the highest fundraising rounds in Australian history. July 3, 2018
This round included Tencent Holdings, Horizons Ventures, Hillhouse Capital Group, Sequoia Capital China, Square Peg Capital, and Central Capital Ventura.
Nothing makes my day like seeing a female COO and Co-Founder raising capital with great investors! Well done @awxlucy and @airwallex. Inspring for all female entreprenuers @SBEAustralia @SpringboardEnt
— klsinclair (@klsinclair) July 4, 2018
A report published in 2017 by Startup Muster found that 25.4 per cent of founders in Australia are female, a report published in 2014 by Crunchbase found that 15.5 per cent of US startups had at least one female founder.
In an interview with Australian publication SmartCompany, co-founder and COO Lucy Yueting Liu said the funding would be going toward new products, features and applications, as well as expanding licensing.
“When we first started, we wanted to build a solution that was compact, smart, and helped reduce the cost and improve efficiency of making payments,” she told SmartCompany. “Now it’s more than that. We’re looking to use a partnership model to try to really build an end-to-end solution [to] help these businesses, and a lot of sub-traders to expand globally.”
