Keep pulling the thread on Jack Zhang.
Airwallex grew from zero to $1 billion in transaction volume within its first nine months of operation.
Airwallex maintained an annual growth rate of over 100% every year from 2015 to 2023.
Airwallex's Annualized Recurring Revenue (ARR) reached $500 million in August 2023, $600 million in November 2023, and $700 million by February 2024.
Airwallex's first investor, Lucy, invested $1 million for a 20% stake at a $5 million post-money valuation.
Australian VCs Airtree and Blackbird, after rejecting Airwallex multiple times, later invested in the company at a $6.2 billion valuation.
DST Global offered to invest $100 million in Airwallex at a $1.1 billion valuation following a meeting between Yuri Milner and Jack Zhang.
Airwallex rejected an acquisition offer from Stripe valued at nearly $1.2 billion.
Airwallex onboarded Shein as a major customer in January 2018.
Tencent and Sequoia co-led an $80 million Series B investment in Airwallex at a $400 million pre-money valuation.
Stripe's acquisition offer for Airwallex was structured as $800 million for the company's cap table, $350 million for the co-founders, and $25 million for employees.
Patrick Collison stated his intention to continue building Stripe for the next 20 to 40 years.
SoftBank was set to lead a funding round for Airwallex in late 2019 but pulled out after the WeWork IPO failure caused the firm to halt new investments.