Airwallex

Fintech · Payments · AI

Funding

Airwallex raises $320M Series H at $11B valuation for agentic finance push

AI investment has made margins too volatile for an IPO right now, according to its chief executive.

• Airwallex closed a $320 million Series H led by New York VC firm Addition, lifting its valuation to $11 billion, a 38% jump in about six months.
• Airwallex is a unified payments and financial platform serving over 250,000 businesses worldwide, including Brex, Rippling, Navan, Qantas and SHEIN.
• New capital will fund T:0, an AI platform automating corporate bookkeeping, tax and compliance, and Airi, an agentic consumer wallet built for delegated agent payments.
• Annualized revenue climbed 74% year-over-year to $1.3 billion, transaction volume more than doubled, and over 90% of revenue now comes from multi-product customers.
• CEO Jack Zhang said the round could let Airwallex delay an IPO, arguing that heavy AI investment has made near-term margins too volatile to go public.
• Airwallex's global footprint of 27 offices and over 85 regulatory licenses has drawn scrutiny over its Chinese investor ties, including backing from Tencent and HongShan Capital.
• The round signals investors are still paying premium valuations for fintechs that can show AI genuinely driving new revenue, not just cutting costs.