Visa considers investment in FinTech Airwallex

Visa is reportedly in talks to contribute to a funding round for FinTech startup Airwallex, according to people familiar with the matter.

Sources told Bloomberg that Airwallex is aiming to raise $100 million to $150 million in an extension of its Series E round, according to a report on Wednesday (July 20).

Airwallex offers cross-border end-to-end payment and collection solutions for customers. The fintech, which has raised around $800 million so far, is also reportedly considering an initial public offering (IPO) that could come as soon as 2024.

Discussions with Visa are still ongoing, and no agreement has been reported at press time. A Visa spokesperson told PYMNTS that the company is not a current investor in Airwallex, but did not comment further.

Bloomberg noted that the company has already raised $100 million in an earlier round in November, from investors that included Lone Pine Capital and Sequoia Capital China. At that time, the total fundraising round reached about 300 million dollars, and the total value at that time was 5.5 billion dollars.

The expansion round is said to value Airwallex at the same level, but no final decisions have been made yet and the details may change later. Airwallex did not respond to a request for comment at press time.

PYMNTS reported last month that Airwallex also recently rolled out global payment options for New Zealand, providing businesses with international collections, multi-currency wallets and local payouts for over 30 currencies.

See also: Airwallex Intros Global Payment Services in New Zealand

The rollout also aims to provide businesses with a better, cheaper and faster alternative to legacy financial institutions’ programs, the company said.

Airwallex said businesses will soon have access to the full Airwallex suite as it is rolled out over time, including multi-currency corporate and employee cards, spend management and online payment capabilities.

“Our entry into the New Zealand market is something our customers have been asking for for some time; businesses are telling us they have been deterred from reaching their full potential in this market due to the complexity of making international payments or transacting across borders,” Sam Kothari, Airwallex ANZ growth manager, said at the time. “By providing local businesses with a single global financial platform, we aim to empower them to scale successfully, which is particularly important in this current economic environment.”

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