K&L Gates has advised Australian venture capital firm Square Peg on its lead investment in global fintech firm Airwallex’s US$300 million Series F funding round, valuing the company at approximately US$6.2 billion.
The funding round included existing shareholders such as Lone Pine Capital, Tencent, and DST Global, along with new investors Blackbird Ventures, Airtree Ventures, Radar Ventures, R136 Ventures, and Athletic Ventures.
The K&L Gates corporate team was led by Sydney partners Daniel Atkin and Simon Leslie, supported by senior associate Emanuel Penklis and Melbourne partner Daniel Knight, who handled regulatory matters. U.S. securities advice was provided by partners from the firm's San Francisco and New York offices, while corporate aspects were assisted by the Hong Kong team.
Atkin noted the significance of the transaction, highlighting it as one of Australia’s largest capital raises anticipated this year.
Square Peg has backed Airwallex, known for simplifying cross-border payments for businesses, since 2017, with K&L Gates consistently advising the firm on its international and domestic venture investments.