Photo credit: Airwallex
Financial and payment platform Airwallex recorded a 107% revenue increase in Singapore for the year 2025, with its transaction volume growing 93% within the same period, the firm said today.
Airwallex saw the highest adoption from businesses in the travel and retail sectors. Another tailwind is from more digitally savvy second- and third-generation business owners seeking more innovative ways to do business, said Arnold Chan, the firm’s general manager for Asia Pacific.
Its new customers in 2025 included furniture brand HipVan and mom and baby care company Motherswork.
Chan noted that Airwallex’s absolute growth in the city-state, one of the firm’s earlier and most established markets, “remains very strong,” even though its topline grew at a slower rate than the 153% revenue growth logged in 2024.
“Delivering 107% revenue growth in 2025 still reflects significant momentum and continued adoption by businesses using Airwallex to manage their global financial operations,” he added.
The firm didn’t share a breakdown of its SME and enterprise customers, but it’s working with a growing number of enterprises globally, such as US payroll company Deel and Australian airline Qantas.
Last year, Airwallex also increased its headcount in Singapore – one of its two headquarters alongside San Francisco – by 62% to over 400 employees. This more than doubled the size of the firm’s product, engineering, and design team.
Airwallex, which surpassed US$1 billion in annualized run rate revenue in October 2025, offers business accounts, cross-border payments, and expense management tools.
In the past year, the firm has acquired payments licenses in Asia-Pacific markets like South Korea, Vietnam, and Indonesia. Market expansion and new products are also on the charts for 2026.
Chan told Tech in Asia that Airwallex remains “very bullish” on the Middle East and that it has no plans to dial back on its investment in the region despite the ongoing conflict.
Last year, the firm set up an entity in Saudi Arabia and obtained in-principle approval from the Central Bank of the United Arab Emirates for a UAE payments license.
“We’ve been around for 10 years – we’ve experienced Covid-19, tariffs, everything – our strategy is to be as well-positioned in different parts of the world where our customers trade,” Chan said. “So, if you don’t want to trade with country A and you want to trade with country B, we want to be in a position where we have licenses in both countries.”
He also shared that Airwallex plans to introduce more AI into its software stack.
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