Thursday, July 21, 2022
HomeBankVisa in talks to spend money on fintech startup Airwallex

Visa in talks to spend money on fintech startup Airwallex

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

The Tencent Holdings Ltd.-backed startup is searching for to boost $100 million to $150 million in an extension to its sequence E spherical, the individuals stated. Among the startup’s present shareholders might additionally take part, stated the individuals, 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 individuals stated.

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, 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 similar stage, the individuals stated. 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 purchasers. It has greater than 1,000 staff 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 thus far and counts DST World and Mastercard Inc. amongst its backers, its web site exhibits. The corporate is contemplating an preliminary public providing as quickly as 2024, individuals accustomed to the matter have stated.

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



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