Airwallex
Overview
Airwallex is a leading global financial technology company specializing in cross-border transactions and financial services. Founded on December 1, 2015, by Jack Zhang, Lucy Liu, Max Li, and Xijing Dai in Melbourne, Australia, the company has advanced to valuation peaks of $6.2 billion as of May 2025. Airwallex has raised over $1.25 billion in funding to date from notable investors such as DST Global, Salesforce Ventures, and Visa Ventures. It is headquartered in Singapore and boasts over 150,000 business clients worldwide, including notable names like TikTok, SHEIN, and Qantas.
Recent Developments
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September 3, 2025: Airwallex acquired OpenPay, a billing platform based in San Francisco, as part of its strategic expansion into subscription management and payment orchestration.
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August 2025: Celebrated a hat trick at the 2025 Asia FinTech Awards, winning Banking Tech of the Year, Best Employer, and Director of the Year, showcasing leadership in fintech innovation.
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August 2025: Airwallex expanded its Yield product into Singapore after securing a CMS license from the Monetary Authority of Singapore (MAS) and MiFID licence for Yield in the Netherlands.
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July 2025: Collaborated with Arsenal FC to become the Official Finance Software Partner, enhancing its brand in sports sponsorships.
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July 2025: Secured Payment Service License in Israel expanding its global payment solutions to local businesses.
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June 2025: Raised $300 million in a Series F funding round, valuing the company at $6.2 billion, aimed at accelerating global banking expansion.
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Early 2025: Announced acquisitions of CTIN Pay in Vietnam and MexPago in Mexico to strengthen its Asia-Pacific and Latin America presence.
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April 2025: Recognized by Fast Company as one of the World’s Most Innovative Companies, emphasizing its pivotal role in redefining financial innovation globally.
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March 2025: Launched operations in New Zealand, marking its growing influence in the Asia-Pacific.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | December 1, 2015 |
| Headquarters | Singapore |
| Founders | Jack Zhang, Lucy Liu, Max Li, Xijing Dai |
| Revenue | $900 million (annualized as of 2025) |
| Total Funding Raised | $1.25 billion |
| Key Investors | DST Global, Salesforce Ventures, Visa Ventures |
| Industry | Financial Technology |
| Number of Employees | Over 1,700 globally |
Early History
Airwallex was founded by Jack Zhang and a group of fellow entrepreneurs who faced exorbitant fees and hassles dealing with cross-border payments in their café business in Melbourne. They envisioned a seamless financial solution that would address traditional banking inefficiencies. Beginning in a coffee shop, Airwallex focused on providing efficient and cost-effective payment solutions. The founders bootstrapped the company initially and built a proprietary network by partnering with global banks, leading to the creation of a platform designed to lower transaction costs significantly. Early on, the company joined Mastercard's Start Path program, which accelerated its exposure and validation, setting firm foundations for rapid global deployments.
Company Profile and Achievements
Airwallex has evolved significantly from its startup days, focusing on expanding its fintech offerings. With products like Airwallex Yield, it facilitates competitive multi-currency returns for businesses without requiring separate bank accounts, and by integrating AI, it optimizes complex payment solutions. The company's robust API allows seamless integration into third-party software, tailoring fintech solutions directly suited to client demands, which has become a competitive edge.
Key milestones include surpassing $100 billion in transaction volume by August 2025, a testament to its innovative solutions fueling significant growth. The company has sculpted a unique market position by offering cost reductions of up to 30% in conversion fees compared to traditional banks, thereby appealing to businesses managing global operations. Its strategic partnerships with companies like Mastercard and client onboarding capacity exceeding 150,000 businesses present a scale prime for its envisioned IPO readiness by 2026.
Current Operations and Market Position
As of 2025, Airwallex is a formidable player in fintech, with expanded operations in EMEA and the Americas, surpassing 150,000 businesses served. Its platform focuses on facilitating global financial operations with an extensive portfolio covering multi-currency transactions, expense management, credit cards, and integrations with top ERP systems. It also adapts cutting-edge technology like AI for enhanced transaction monitoring and fraud prevention.
Airwallex's market position is robust, supported by strategic expansions in LATAM and comprehensive product offerings like Spend and Billing, enabling seamless customer management. The company's sizeable transaction volume and significant client base in various industries position it as a key player poised for further expansion and innovation.
Conclusion
Airwallex stands as a pioneering entity in the fintech realm, consistently disrupting international banking norms. From a coffee shop idea to a multi-billion dollar valuation company, it is poised to continue its rapid growth trajectory, particularly with its strategic expansions and innovative product offerings. The influence it casts on global finance highlights its significance, showcasing its potential to redefine how businesses manage cross-border transactions, reflecting a future of frictionless financial interactions for its global customers.