Airwallex Sees Strong Growth Momentum in Singapore, Reports 13x Revenue Growth YoY

Following a strong year of growth, leading global fintech platform Airwallex today announced business highlights in Singapore.

In the first half of 2023, Airwallex Singapore saw 13x growth (1213%) in year-on-year revenue and more than 11x growth (1015%) in total transaction volume as businesses in Singapore recovered from the pandemic and the world reopened. 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, 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, "As one of our fastest-growing markets to date, we are confident about our growth in Singapore and will continue to invest in the business across Southeast Asia."

As Airwallex grows in Southeast Asia, the company will continue to expand in Singapore and aims to grow its headcount to more than 200 in the next year. 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 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 U.S. and 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. Earlier this year, Airwallex was also named to CNBC-Statista's ?World's Top Fintech Companies 2023' list.

About Airwallex

Airwallex is a leading global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury, and spend management to embedded finance. With our 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. Proudly founded in Melbourne, Airwallex supports over 100,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more. For more information, visit https://www.airwallex.com.