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Monday, January 29, 2024

Visa in talks to put money into fintech startup Airwallex

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Funds large Visa Inc. is in talks to hitch an extension of the fintech startup Airwallex’s newest funding spherical, based on individuals aware of the matter.

The Tencent Holdings Ltd.-backed startup is looking for to lift $100 million to $150 million in an extension to its collection E spherical, the individuals stated. A number of the startup’s current shareholders may additionally take part, stated the individuals, who requested to not be recognized as a result of the data is non-public.

Discussions are ongoing, and Airwallex and Visa haven’t reached any settlement but, the individuals stated.

Airwallex has been trying to increase as a lot as $150 million within the extension, Bloomberg Information reported in April. It beforehand raised $100 million from buyers together with Lone Pine Capital and Sequoia Capital China in November, taking whole fundraising within the collection E spherical to about $300 million, based on a press launch. The November spherical valued Airwallex at about $5.5 billion.

The extension spherical will worth the startup on the identical degree, the individuals stated. No last selections have been made and particulars may nonetheless change, they added. Representatives for Airwallex and Visa declined to remark.

Based in 2015 by the house owners of a Melbourne espresso store, Airwallex gives companies together with cross-border end-to-end funds and assortment options for purchasers. It has greater than 1,000 staff in 19 places of work in nations together with China, Australia, Japan, the US and the UK, based on its web site.

The startup has raised about $800 million to date and counts DST World and Mastercard Inc. amongst its backers, its web site reveals. The corporate is contemplating an preliminary public providing as quickly as 2024, individuals aware of the matter have stated.

–By Gillian Tan, Manuel Baigorri and Jenny Surane (Bloomberg)



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