The Airwallex logo appears on a laptop screen in this photo taken in Athens, Greece, on December 8, 2025.
Nikolas Kokovlis Nurphoto Getty Images
Airwallex has raised $320 million in a Series H funding round, valuing the global payments company at $11 billion, a 38% jump from six months ago, as the fintech company doubles down on artificial intelligence-powered financial software.
The latest funding round was led by New York venture capital firm Addition, with investment from funds including Baillie Gifford, Hummingbird, QED Investors, T. Rowe Price, Washington University in St. Louis and Amex Ventures.
Airwallex also reported that annual revenue increased 74% from a year ago to $1.3 billion in March, and annual production volume doubled from last year. More than 90% of revenue comes from customers using more than one Airwallex product, the company said.
The company plans to use the funds to accelerate product development in private and commercial finance, expand its presence in new markets, and grow teams building next-generation AI financial software.
Airwallex provides bulk payment services to global businesses, including McLaren, Qantas, Canva and Shein. The company was last valued at $8 billion after raising $330 million in a December funding round led by Addition.
Along with the promotion, the company also announced two AI-focused products.
One, called T:0, is an AI platform designed to automate business financial functions, including bookkeeping, tax, compliance and reporting. The product is currently in private beta and may be made more widely available in the coming weeks.
The second product, Airi, is a consumer wallet that Airwallex said will eventually support delegated agent payments, spending limits, approval controls and cash balances.
Airwallex has acquired more than 85 licenses across North America, Europe, the Middle East and the Asia-Pacific, which it says is in a position to support the emerging agency economy.
“The licenses, the integration of local networks, and the train that we’ve spent a decade building is the kind of infrastructure we need,” founder and CEO Jack Zhang said in a statement. “This new capital allows us to move quickly into the next chapter of Airwallex.”
Zhang told the Australian Financial Review in a recent interview that the new funding could allow the company to delay a public listing, as investment in AI development has made its margins “too fragile to go public.”
Founded in Australia in 2015, Airwallex has faced increasing scrutiny over its relationship with China. The company, based in San Francisco and Singapore, has 27 offices around the world, including Shanghai, Beijing and Shenzhen, and is backed by major Australian corporate firms and Chinese investors, including Tencent and HongShan Capital, formerly known as Sequoia China.
In December, prominent Silicon Valley investor Keith Rabois, who is also a board member of rival US fintech Ramp, accused Airwallex of being “a Chinese backdoor to sensitive American data.”
The company has denied those allegations. Zhang, in a recent statement, described them as “wild and baseless conspiracy theories,” saying that American customers’ information is stored in the US and employees based in China or Hong Kong cannot access it.
