CB Insights today named Airwallex to the fourth annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York City.
“This is the fourth class of the Fintech 250, and it’s also the most international, representing 26 countries. These 250 fintech startups are attacking an incredibly diverse array of financial services opportunities across 19 sectors, including digital banking, insurance, payroll, retail investing, and more,” said CB Insights CEO Anand Sanwal. “After being named to the CB Insights Fintech 250 last year, the 2020 class saw 17 companies go public and 25 get acquired. They also went on to raise over $25B in additional financing and forged more than 380 new partnerships after being recognized. The Fintech 250 has a history of spotlighting the very best fintech companies, and this year is no different. We’re excited to see how these fintech startups disrupt and transform financial services in the years ahead.”
Lucy Liu, Co-founder and President of Airwallex said, “As a leading global fintech business, we are delighted to have been recognized by CB insights in all four of their Fintech 250 lists, which is a testament to Airwallex’s tremendous growth since our inception in 2015. This is just the beginning, and as we continue to expand globally, we remain committed to our mission of empowering businesses of all sizes to grow without borders.”
Through an evidence-based approach, the CB Insights Intelligence Unit selected the Fintech 250 from a pool of over 17,000 companies, including applicants and nominees.They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
Founded in 2015, Airwallex is one of the fastest-growing global fintech platforms today and has seen significant business growth in the last year, recording a year-over-year revenue growth of nearly 150% for the first half of 2021, and processing more than annualised US$20 billion for a global client portfolio that has quadrupled in size, serving innovative global businesses such as GOAT, Papaya Global and Stake. The company has nearly doubled its headcount in 2021 and employs almost 1,000 employees today in over 20 locations globally. In September 2021, the company announced its US$200 million Series E fundraising round, valuing the company at US$4 billion. This year, Airwallex launched a series of new products and reached major milestones with its global expansion plans, opening for business in the U.S. in August, as well as securing an EMI license in the Netherlands and a Money Services Business license in Malaysia.