Thursday, July 28, 2022
HomeBankVisa in talks to put money into fintech startup Airwallex

Visa in talks to put money into fintech startup Airwallex

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

The Tencent Holdings Ltd.-backed startup is in search of to lift $100 million to $150 million in an extension to its sequence E spherical, the folks mentioned. Among the startup’s current shareholders might additionally take part, mentioned the folks, who requested to not be recognized as a result of the knowledge is personal.

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

Airwallex has been trying to elevate 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 sequence 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 folks mentioned. No closing selections have been made and particulars might nonetheless change, they added. Representatives for Airwallex and Visa declined to remark.

Based in 2015 by the homeowners of a Melbourne espresso store, Airwallex gives companies together with cross-border end-to-end funds and assortment options for patrons. It has greater than 1,000 workers in 19 workplaces 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 this point 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, folks accustomed to the matter have mentioned.

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



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