Key Takeaways
- • Metal, an Airwallex-backed infrastructure start-up, raised nearly $50 million in seed funding, with Airwallex and its venture capital arm Capital 49 serving as joint lead investors.
- • The company builds infrastructure for tokenised financial products and stablecoin payments, positioning itself in the fintech-crypto intersection.
- • Metal was co-founded by Melbourne-based entrepreneur Loong Wang and Catherine Porter, a former Meta executive, bringing both local Australian fintech expertise and Silicon Valley experience to the venture.
- • The funding round was announced in late June 2026, marking continued momentum for Australian-founded fintech companies expanding into U.S. markets.
Summary
Metal, an infrastructure company focused on tokenised financial products and stablecoin payments, secured nearly $50 million in seed-stage funding in a round led jointly by Airwallex and Capital 49, Airwallex's venture capital arm. The announcement in late June underscores sustained investor appetite for blockchain and stablecoin infrastructure, even as broader fintech funding has faced headwinds.
The start-up was co-founded by Loong Wang, a Melbourne-based entrepreneur, and Catherine Porter, a former Meta executive. The pairing of local Australian fintech expertise with Porter's background in one of the world's largest technology companies reflects a deliberate strategy to combine regional market knowledge with deep Silicon Valley networks and product experience.
The funding validates Metal's positioning within the convergence of traditional finance and digital assets. As stablecoins and tokenised financial products gain institutional adoption, infrastructure providers that enable seamless integration with existing payment systems and financial rails occupy a critical market position. Airwallex's direct investment signals confidence in the company's technology and market opportunity, while also potentially positioning Metal as a complementary service within Airwallex's broader fintech ecosystem.
The capital raise represents another example of Australian-founded technology companies establishing themselves in higher-growth markets, particularly the United States. Metal joins a cohort of regional fintech ventures scaling internationally while maintaining core operations or founder bases in Australia.
The start-up was co-founded by Loong Wang, a Melbourne-based entrepreneur, and Catherine Porter, a former Meta executive. The pairing of local Australian fintech expertise with Porter's background in one of the world's largest technology companies reflects a deliberate strategy to combine regional market knowledge with deep Silicon Valley networks and product experience.
The funding validates Metal's positioning within the convergence of traditional finance and digital assets. As stablecoins and tokenised financial products gain institutional adoption, infrastructure providers that enable seamless integration with existing payment systems and financial rails occupy a critical market position. Airwallex's direct investment signals confidence in the company's technology and market opportunity, while also potentially positioning Metal as a complementary service within Airwallex's broader fintech ecosystem.
The capital raise represents another example of Australian-founded technology companies establishing themselves in higher-growth markets, particularly the United States. Metal joins a cohort of regional fintech ventures scaling internationally while maintaining core operations or founder bases in Australia.
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