Bank Startup Airwallex Valued at $6.2 Billion With New Funding

Business banking and payments firm Airwallex raised $150 million in fresh equity financing to increase its investment in artificial intelligence development and to help accelerate growth.

Airwallex is seeking to become a complete operating system for global businesses that supports money movement and expense management, according to Jack Zhang, co-founder and chief executive officer. The funding round increased the Singapore-based firm’s valuation to $6.2 billion from $5.6 billion when it last raised capital in 2022, he said.

“We need to build an application layer, AI layer or the ecosystem layer on top of our infrastructure to become a full, ...