Airwallex sees strong growth momentum in Singapore, reports 13 times of revenue growth

airwallex sees strong growth momentum in singapore, reports 13 times of revenue growth

Global payment firm Airwallex has seen strong growth momentum in Singapore as businesses recovered from the pandemic and the world reopened.

Airwallex said in a statement on Thursday that in the first half of 2023, Airwallex Singapore saw 13 times of growth (1,213 percent) in year-on-year revenue and more than 11 times of growth (1,015 percent) in total transaction volume.

This coincides with Airwallex’s continued scaling of its operations and global footprint, including across Southeast Asia where the company looks to further expand its regional presence.

Home to more than 55,000 startups and ranked as the number one country in Asia with the most promising startup ecosystem, it said Singapore has become a springboard market to Southeast Asia and the Asia-Pacific region.

“Singapore’s connectivity across Asia-Pacific makes it a key location for us as we further strengthen our presence across the region,

“We are dedicated to working hard to provide the best products and solutions, and look forward to fostering closer collaboration with our customers and partners,” said Kai Wu, Chief Revenue Officer and Asia-Pacific Executive General Manager, Airwallex.

Arnold Chan, General Manager of Asia, Airwallex added that as one of their fastest-growing markets to date, they are confident about their growth in Singapore and will continue to invest in the business across Southeast Asia.

As Airwallex grows in Southeast Asia, the company said it will continue to expand in Singapore and aims to grow its headcount to more than 200 in the next year.

It is noted that with its global headquarters situated in the tallest building in Singapore, at the heart of the vibrant Tanjong Pagar District, Airwallex has built a strong ecosystem of customers, partners and collaborators in Singapore, including the Singapore Fintech Association, Australian Trade and Investment Commission and Visa.

Airwallex said it continues to experience tremendous growth momentum, most recently announcing its planned acquisition of MexPago and expansion into Latin America, several key
partnership wins in the United States and Europe, Middle East, Africa (EMEA) including Brex, Public and OurCrowd, and the launch of its ‘Airwallex for Startups’ program in Hong Kong.

Most recently, Airwallex announced the launch of a new Yield product in Australia.

Airwallex is a global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury, and spend management to
embedded finance.

With its proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders.

Founded in Melbourne, the firm supports over 100,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more.


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