SAN FRANCISCO — Airwallex raised $320 million in a Series H funding round, increasing the company's valuation to $11 billion from a previous valuation of $8 billion. Addition led the round, which included investors Baillie Gifford, Hummingbird, QED Investors, T. Rowe Price, Washington University in St. Louis, Amex Ventures, Hedosophia, and Haun Ventures.

Founded in Australia in 2015, Airwallex reported annualized revenue of $1.3 billion in March, with more than 90% of revenue coming from customers using more than one product. The company provides multi-currency payment services to global businesses including McLaren, Qantas, Canva, and Shein. Airwallex plans to use the investment to accelerate product development in autonomous finance and agentic commerce, expand its infrastructure and regulatory footprint into new markets, and continue expanding its teams to build AI-native financial software.

The company announced new AI-native financial products, including T:0, a platform in private beta designed to automate corporate finance functions such as bookkeeping, tax, compliance, and reporting. Airwallex also announced Airi, an agentic consumer wallet that will support delegated agent payments, spending limits, permission controls, and multi-currency balances. "The licenses, local network integrations, and settlement rails we spent ten years constructing are precisely the kind of infrastructure it needs," said Jack Zhang, Co-founder and CEO. "This new capital lets us move faster into Airwallex's next chapter." Zhang stated that investment in AI development has made Airwallex margins too volatile to go public.

Airwallex rejected allegations from Keith Rabois, a Silicon Valley investor and board member of Ramp, who accused the company of being a "Chinese backdoor into sensitive American data." Zhang said, "These are wild and totally unfounded conspiracy theories." He stated that American customers' data is stored in the U.S. and is inaccessible to staff based in China or Hong Kong. The company holds more than 85 licenses across North America, Europe, the Middle East, and Asia-Pacific. Airwallex is headquartered in San Francisco and Singapore, with 27 offices globally, including in Shanghai, Beijing, and Shenzhen. The company is backed by Australian venture capital firms and Chinese investors, including Tencent and HongShan Capital, formerly known as Sequoia China.