What is Airwallex's current valuation?

Airwallex is currently valued at $8 billion.

Did Stripe try to buy Airwallex?

Yes, in 2018, Stripe offered to acquire Airwallex for $1.2 billion, but the founders declined the offer.

Who is Jack Zhang and what is his role at Airwallex?

Jack Zhang is the co-founder and CEO of Airwallex, a fintech company he helped build into a global leader.

Home / Business and Economy / Fintech Giant Rejects $1.2B Offer, Now Worth $8B

Fintech Giant Rejects $1.2B Offer, Now Worth $8B

23 Feb

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Summary

Airwallex, founded in 2015, is now valued at $8 billion.
Stripe previously offered to acquire Airwallex for $1.2 billion.
CEO Jack Zhang overcame personal financial hardship to co-found the company.

Fintech Giant Rejects $1.2B Offer, Now Worth $8B

Airwallex, a leading fintech innovator, has achieved a remarkable valuation of $8 billion, seven years after rejecting a substantial $1.2 billion acquisition offer from Stripe in 2018.

Co-founder and CEO Jack Zhang's journey is central to the company's success. Zhang, who moved to Australia alone at 15, persevered through financial hardship, working extensively to fund his education. This resilience shaped his entrepreneurial spirit.

In 2015, Zhang and friends founded Airwallex, driven by a desire to overhaul inefficient cross-border payment systems. The company now serves over 200,000 customers and generates over $1 billion in annual recurring revenue.

Despite facing challenges like fraud losses and pandemic-related revenue impacts, Airwallex has continued its upward trajectory.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.