Airwallex raises $13M led by Tencent

Australia-based cross-border payments startup Airwallex has closed a $13 million Series A round to expand its reach across Asia Pacific and into Europe. The deal was led by Chinese internet giant Tencent — marking its first investment in an Australian startup — with participation from Sequoia China, Mastercard and other undisclosed investors. Airwallex was founded last year… Read…

“Airwallex was founded last year to tackle the issue of cross-border transactions at scale. Unlike predominantly consumer-focused services such as TransferWise — which actually opened an Asia Pacific HQ last week — Airwallex targets businesses, allowing them to make and receive international payments at scale at both a lower cost and with less hassle.

Beyond convenience of faster payment and reconciliation, the Melbourne-based startup, which previously raised $3 million last summer, has forged relationships with trading partners to help its customers save money on their overseas transactions.” via Airwallex raises $13M led by Tencent to bring its cross-border payment service to Europe — TechCrunch

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