36 Krypton learned that the cross-border payment platform "Airwallex" announced today that it had completed an additional $40 million round of D+financing from existing investors. Previously, Airwallex Cloud Exchange successfully completed round D financing of US $160 million in April this year. After this addition, the total financing amount of round D of the Company reached US $200 million, and the cumulative financing scale exceeded US $400 million.
Airwallex said that this round of financing will be used to further integrate the whole chain of cross-border payment, accelerate business development in Asia Pacific, Britain and Europe, expand the coverage of the global payment network to more emerging regions such as the Middle East, Eastern Europe and Africa, and lay the foundation for entering the U.S. market in the first quarter of 2021.
36 Krypton has reported Airwallex for many times. Airwallex, founded in Melbourne, Australia in 2015, mainly provides platform enterprises with integrated cross-border payment solutions. At present, the main businesses of Airwallex include global collection, international payment, currency exchange, etc. Its services include cross-border e-commerce, online tourism, logistics, education and study abroad, financial institutions, digital marketing, online entertainment, etc.
At the beginning of its establishment, Airwallex started from foreign exchange business, and gradually developed into payment, collection and other services in 2017. Since last year, it has entered the stage of building capacity and platform integration of the external export financial system.
This year, in order to meet the differentiated needs of customers at different stages, Airwallex Cloud Hub has further expanded and enriched its product line on the basis of the existing product system. In the first half of the year, Airwallex and Visa established an in-depth partnership and jointly launched the Airwallex Borderless Card. In addition, Airwallex's global acquiring business has also been launched in some countries and regions for the first time, providing merchants with a new acquiring experience through access card organizations and local payment methods. Airwallex also cooperates with commercial banks, non bank payment institutions and other local financial institutions to provide one-stop cross-border financial services for different types of enterprises.
The online and globalization of the world economy has accelerated the development of the cross-border payment industry, and the application and innovation of technology have also further penetrated into the global payment system. In 2020, the commercialization of Airwallex has also made rapid progress - in the third quarter of this year, the company's global customer volume grew by more than 50%, and its net income grew by more than 100% compared with the second quarter. It has outstanding performance in cross-border e-commerce, cross-border logistics, online education and other digital economy fields.
Jack Zhang, co-founder and CEO of Airwallex, said: "From the beginning of its establishment, Airwallex has firmly believed that digitalization and online economy are the trend of the times, and this year's global epidemic has accelerated this process. More and more enterprises are experiencing digital changes at a speed that has never been seen before. Airwallex will continue to build a new generation of global digital financial infrastructure."