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Airwallex opens Dubai office, raises USD160m

Fintech firm expanding presence and product range

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Melbourne-based financial technology company Airwallex has opened an office in Dubai followed by its successful Series D fund-raising round of USD 160 million, its largest to date.

The funding was raised with participation from a group of new investors, including ANZi Ventures - the corporate venture arm of ANZ - and Salesforce Ventures, and several existing investors, including DST Global, Tencent, Sequoia Capital China, Hillhouse Capital, and Horizons Ventures.

The new funding brings Airwallex’s total equity raised since it was founded in 2015 to USD 360 million.

Alongside international expansion, including in Bengaluru, India, Airwallex has also extended its product line deeper into the financial services space, including the launch of Airwallex Borderless Cards in partnership with Visa and an in-app integration with Xero.

The company says the new funds will be used to accelerate worldwide growth in Europe, the US, and new markets, implement payment acceptance capabilities, and explore acquisitions.