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CHINA BRIEF | Tencent-backed payments unicorn Airwallex scores new investment from Alibaba

Alibaba will support Airwallex’s growth in the Greater China region.

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The Hong Kong-headquartered global payment service provider Airwallex has closed its Series D+ round with participation of Alibaba Entrepreneurs Fund, 36Kr has learned.

Alibaba will support Airwallex’s growth in the Greater China region, the company said, without revealing any financial details for this new round.

Airwallex is providing financial services that allow companies to send or receive money from more than 130 countries, since it was founded in 2015 in Melbourne, Australia. Its clients include Tencent, JD.com, edtech firm 51Talk, and online travel agency Tuniu.com, according to its website.

Tencent has been an investor in Airwallex’s USD 80 million Series B round closed in 2018 and USD 160 million Series D closed in April this year.

The startup gained unicorn status in 2019, according to a TechCrunch report.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.