According to The Australian Financial Review, cross-border payments start-up Airwallex has become the quickest company in Australian history to achieve so-called unicorn status, with a $US1 billion valuation, after closing a $US100 million ($141.3 million) funding round.
The round, led by US investor DST Global, which has also backed the likes of Facebook, Airbnb, Spotify and Stripe, makes Airwallex the third Aussie company to become a unicorn in the last 18 months.
It was founded in late 2015 by its chief executive, Jack Zhang, alongside three University of Melbourne friends and a former partner in a coffee shop. Mr Zhang was raised in Qingdao, China, before moving to Australia in his mid-teens for high school.
Airwallex has created a payments infrastructure that enables businesses to manage cross-border payments easily and cheaply, and has grown to employ 260 people, while raising more than $US200 million in capital.
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