Airwallex told its biggest local investor, Square Peg Capital, that it was being investigated by the financial crimes regulator over money laundering concerns well before it joined some of the world’s biggest venture capital firms in backing the $US8 billion payment giant’s $498 million December funding round.
The Melbourne venture capital firm led by Seek co-founder Paul Bassat has invested in every funding round at Airwallex since 2017, and Bassat is on its board. It was joined in backing Airwallex in the December capital raise by US firms including Addition, T. Rowe Price and Robinhood Ventures, as well as fellow Australian firm Airtree Ventures.
