By Oliver Smith on Friday 22 July 2022
Valuation will apparently stay flat at $5.5bn.
Payments giant Visa is said to be in talks with SME banking provider Airwallex, to join the second extension of its Series E funding round.
The report cautioned that discussions with Visa are still ongoing and an agreement has yet to be reached.
An Airwallex spokesperson declined to comment, while Visa has yet to respond to AltFi’s request for comment.
In the third quarter of 2021, Airwallex said it saw a 165 per cent year-on-year increase in revenue, and is now operating at an annualised revenue rate of over $100m.
Pranav Sood was appointed general manager for Airwallex in EMEA earlier this year, as well as being appointed a director of the company's UK and Netherlands entities.
On his appointment, Jack Zhang, co-founder and CEO of Airwallex, said the hire was part of the company’s move to “strengthen our foothold in EMEA”.