Aussie start-up’s value soars to $16b as scrutiny intensifies
The value of the fintech that moves more than $1 billion a day is soaring. Regulators on two continents are asking hard questions about it.
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The value of Melbourne-founded payments company Airwallex has soared to $US11 billion ($16 billion) after it raised hundreds of millions of dollars from investors in new funding, even as it fights a financial-crimes audit at home and mounting pressure in the United States over its links to China.
The $US320 million funding round means Airwallex’s valuation has increased by about $US3 billion in roughly six months, a vote of confidence in one of Australia’s most valuable private companies even as scrutiny of it intensifies on two fronts.
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