Airwallex Raises $80M to Expand Cross-Border Payments Infrastructure

Airwallex, an Australian-founded cross-border payments platform, raised $80 million in funding during the first half of 2018. The company provides businesses with API-based infrastructure for international payments, foreign exchange, and multi-currency accounts, enabling embedded cross-border financial capabilities. Airwallex's platform is designed to reduce the cost and complexity of international transactions for businesses by bypassing traditional correspondent banking networks.

The funding was intended to fuel geographic expansion and product development. The round was part of a broader H1 2018 trend of record fintech investment, with payments infrastructure companies attracting significant capital. Airwallex's model of providing banking-grade payment infrastructure via APIs aligns closely with the BaaS paradigm, allowing platforms and businesses to embed cross-border payments into their own products.