Airwallex Raises $320M in Series H, Valuation Jumps 38% in Six Months

Airwallex (空中云汇) disclosed a $320 million Series H financing round, bringing its post‑money valuation to $11 billion, which represents a 38% increase over the previous $8 billion valuation from the G round six months earlier. The round was led by Addition, which has participated in Airwallex’s F, G, and now H rounds.

Lee Fixel of Addition commented that Airwallex’s underlying financial infrastructure creates a high barrier to entry and is difficult to replicate, emphasizing that truly competitive firms must build core financial foundations rather than merely offering surface‑level applications. The article paraphrases this as “don’t build a house on someone else’s foundation.”

The new capital will be directed toward two product areas: financial intelligence and AI‑driven commerce. The first product, T:0 , is described as an AI‑native finance platform that automates bookkeeping, financial forecasting, tax compliance, and financial reporting from day 0 for enterprises. The second product, Airi , is a wallet tailored for AI‑agent commerce, with early tests showing a one‑click checkout feature that can increase merchant conversion rates by up to 14%. Airi aims to become the underlying infrastructure for the AI‑agent economy, supporting delegated payments, spend‑limit controls, and multi‑currency balances.

Both products leverage Airwallex’s ten‑year accumulation of more than 85 financial licenses, 160 local payment networks, and payment capabilities in over 200 countries and regions, exposing these assets as API‑driven services.

Financial metrics show that as of March 2026, Airwallex’s annualized revenue reached $13 billion, a 74% year‑over‑year increase, while annualized transaction volume hit $2.87 trillion, up over 120% YoY. More than 90% of revenue comes from customers using multiple Airwallex products, indicating strong stickiness and high migration costs.

Jack Zhang, in a cited article, argued that “the AI era has no local market,” illustrating how new‑generation entrepreneurs can secure customers worldwide from day 0, source supplies globally, and operate across jurisdictions. However, the piece notes that cross‑border fund flows, multi‑currency account management, and compliance across dozens of legal jurisdictions cannot be solved by AI alone; these require the foundational infrastructure Airwallex provides.

The article concludes that while many are racing to build AI applications, Airwallex is constructing the “financial water, electricity, and gas” of the AI era, positioning its financing and infrastructure as a durable competitive advantage.