Tuesday, November 22, 2022
HomeBankVisa in talks to put money into fintech startup Airwallex

Visa in talks to put money into fintech startup Airwallex

Funds big Visa Inc. is in talks to hitch an extension of the fintech startup Airwallex’s newest funding spherical, in keeping with individuals conversant in the matter.

The Tencent Holdings Ltd.-backed startup is in search of to boost $100 million to $150 million in an extension to its collection E spherical, the individuals mentioned. A number of the startup’s current shareholders may additionally take part, mentioned the individuals, who requested to not be recognized as a result of the data is non-public.

Discussions are ongoing, and Airwallex and Visa haven’t reached any settlement but, the individuals 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 traders together with Lone Pine Capital and Sequoia Capital China in November, taking whole fundraising within the collection E spherical to about $300 million, in keeping with a press launch. The November spherical valued Airwallex at about $5.5 billion.

The extension spherical will worth the startup on the identical stage, the individuals mentioned. No closing choices have been made and particulars may nonetheless change, they added. Representatives for Airwallex and Visa declined to remark.

Based in 2015 by the homeowners of a Melbourne espresso store, Airwallex supplies companies together with cross-border end-to-end funds and assortment options for purchasers. It has greater than 1,000 workers in 19 workplaces in international locations together with China, Australia, Japan, the US and the UK, in keeping with its web site.

The startup has raised about $800 million to date and counts DST International and Mastercard Inc. amongst its backers, its web site exhibits. The corporate is contemplating an preliminary public providing as quickly as 2024, individuals conversant in the matter have mentioned.

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



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