$ 108 MILLION: Finnish firm Airwallex has closed the second-largest financing round in Australian history

• Fintech Airwallex, based in Melbourne, raised 80 million US dollars ($ 108 million) in a Series B financing round.
• This is the second round of financing of the company. history of Australia.
• The technology of the company facilitates cross-border payments. Most of the new funds will go towards an international expansion strategy.

Australian Fintech Airwallex has announced the successful completion of a $ 80 million ($ 108 million) Series B financing round.

The latest capital injection – the second largest round of financing of the Australian history – was carried out by global investors including Asian giants Tencent and Sequoia China.

These two companies participated in Series A last May, which brought in about $ 17 million

. The Australian company Square Peg Capital also participated after initially investing about $ 6 million last December.

In 2015, Airwallex is a cross-border payment company that provides technology to facilitate international transactions in foreign exchange markets.

One of the main competitive advantages of the company is that it holds a license in China for processing transactions.

"Airwallex wants to support Australian companies with impressive financial products," said Lucy Liu, COO and co-founder of the company.

] "In providing these solutions, we intend to shake the industries we play in. We are creating a better, more profitable one-stop solution by using"

The company also wants to continue its expansion with offices in North America and Canada In addition to existing offices in Melbourne, Hong Kong, Singapore, London and Shanghai

"Airwallex has identified companies around the world Similar challenges as the pace and connectivity of a digitized global economy continues to accelerate "By offering complete end-to-end solutions – not just FX and payments – we are changing the way our customers prosper in the world arena. "

Airwallex said a significant portion of the new funds will be used to obtain financial licenses in Hong Kong to facilitate the company's operations in this market.

The funding will also serve to expand the business platform in the UK, where she sees significant opportunities to facilitate connections with Southeast Asia

The Numbers Internet Dealbook show that the $ 108 million raised by Airwallex is the second largest round of financing in the history of Australia, behind the $ 250 million US dollars collected by the company's Campaign Monitor email marketing in 2014.

Now, look at: Money & Markets videos

Want to read more in detail the trends that are influencing Australian business and the global economy? BI / Research is designed to help industry leaders and leaders understand the key challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.