Wise has announced a new hub in Hyderabad, India, as part of its expansion in the country. The hub is set to open in the second half of 2025 and will serve as a full-stack operational center.

Wise plans to hire hundreds in product, engineering, and operations roles over the next few years. Smrithi Ravi, APAC head of engineering, will lead the new hub after returning to India from Singapore.

The Hyderabad teams will work on both regional and global product development and operations.

Alongside the announcement, Wise launched a feature for Indian businesses to receive international payments in eight currencies, including USD, GBP, EUR, and AUD.

This allows businesses to generate international account details and receive payments at mid-market exchange rates.

Wise has been operating in India since 2013 and now processes about 10% of all remittances to the country. The company aims to grow its services further while tapping into India’s strong tech talent.

🔗 Source: Wise

🧠 Food for thought

1️⃣ India’s fintech market demonstrates explosive growth with vast untapped potential

Wise’s expansion in India aligns with broader market momentum where the Indian fintech industry is projected to grow from $584 billion in 2022 to $1.5 trillion by 2025, representing one of the fastest growth trajectories globally1.

The payments segment specifically is expected to reach $100 trillion in transaction volume by 2030, with revenues of approximately $50 billion, showing why international payment providers are racing to establish stronger footholds in the market1.

Indian fintechs currently contribute about $100 billion in enterprise value, but this is expected to more than triple to nearly $350 billion by 2026, representing significant untapped potential2.

Cross-border payments in particular have become a high-growth segment, driven by India’s expanding role in global trade, the growing freelance economy, and businesses increasingly engaging with international customers and suppliers3.

2️⃣ India’s demographic advantage creates dual benefits of talent pool and rising purchasing power

With India now the most populous country at over 1.428 billion people and a significantly younger population than other major economies (median age of 29.5 years versus China’s 39.8), the country offers both a vast consumer market and talent pool for tech companies4.

The dependency ratio is projected to be just over 0.4 by 2030, indicating a demographic dividend with more working-age adults compared to dependents, creating favorable conditions for economic expansion and innovation4.

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