A Singapore fintech that was labelled a “Chinese backdoor” by a prominent tech investor has diluted its major Chinese shareholder and added a US headquarters as part of a fundraising round that values the business at $8bn.
Payments company Airwallex has made San Francisco its second headquarters, and the $330mn raised in the round will be used to expand its presence in Silicon Valley.
The company hopes to hire swaths of artificial intelligence engineers to improve its software and in the process double its US headcount to more than 400 people over the next year.
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