(Reuters) - Payments firm Airwallex said on Wednesday it was valued at $6.2 billion in its latest fundraise of $300 million, marking a nearly 11% jump in valuation from its previous financing in 2022.

An impending private market revival has been delayed by U.S. President Donald Trump's flip-flop trade and geopolitical maneuvers. According to a PitchBook report, flat and down rounds accounted for over 26% of completed deals in the first quarter of 2025.

Fintech startups, which saw an investor gold rush post-COVID, have struggled to raise capital since with persistently high interest rates and recession fears pushing investors to the sidelines.

However, Airwallex's latest valuation represents an increase from the $5.5 billion it achieved in an extension to its series E round about three years back.

The latest round, which included investors like Square Peg, DST Global, Lone Pine Capital and Blackbird, brings Airwallex's total funding to over $1.2 billion.

Jack Zhang, co-founder and CEO of Airwallex told Reuters that Japan, Korea, and Latin America are core to the company's expansion strategy.

The company, which allows customers to issue and pay international invoices and bills through its payments platform, has been diversifying operations to integrate more deeply into its customers' financial activities.

"Just a few years ago, most of our business came from our cross-border infrastructure. Today, online payment processing and spend management are over 70% of net revenue," Zhang said.

Airwallex lists companies such as fashion retailer Shein, Australian carrier Qantas and software firm Xero as clients, according to its website.