Airwallex hits $11 billion valuation with $320 million raise as fintech pushes into finance run by AI agents

• Airwallex reported annualized revenue of $1.3 billion in March, up 74% year-over-year, with transaction volume more than doubling and over 90% of revenue from multi-product customers
• The company launched two AI products: T:0, an AI-native platform automating corporate finance functions, and Airi, an agentic consumer wallet supporting delegated agent payments
• CEO Jack Zhang stated the new funding may delay the company's public listing as AI investment has made margins 'too volatile to go public,' while the firm maintains it stores U.S. customer data domestically and inaccessible to China-based staff

Airwallex Valuation Surges to $11B on AI-Driven Finance Push

Key Funding Details:

Airwallex raised $320 million in Series H funding, achieving an $11 billion valuation—a 38% increase from six months prior. The round was led by New York-based Addition, with participation from Baillie Gifford, Hummingbird, QED Investors, T. Rowe Price, and Amex Ventures.

Financial Performance:

The Melbourne-founded fintech reported strong growth metrics: annualized revenue surged 74% year-over-year to $1.3 billion as of March, while annualized transaction volume more than doubled. Over 90% of revenue came from customers using multiple Airwallex products.

AI Strategy and Products:

The company is pivoting toward "autonomous finance and agentic commerce," announcing two AI-focused products:

• T:0: An AI-native platform automating corporate finance functions including bookkeeping, tax, compliance, and reporting (currently in private beta)
• Airi: An agentic consumer wallet supporting delegated agent payments, spending limits, and multi-currency balances

Market Position:

Airwallex serves global businesses including McLaren, Qantas, Canva, and Shein, holding over 85 licenses across North America, Europe, Middle East, and Asia-Pacific. CEO Jack Zhang indicated the funding may delay public listing due to AI investment creating margin volatility.

Regulatory Scrutiny:

The company faces growing concerns over its China ties. Headquartered in San Francisco and Singapore with offices in Shanghai, Beijing, and Shenzhen, Airwallex is backed by Tencent and HongShan Capital. CEO Zhang has rejected allegations of being a Chinese front company, stating U.S. customer data remains stored domestically and inaccessible to China-based staff.