Airwallex, a leading global fintech platform, has announced its business highlights in Singapore following a year of remarkable growth. In the first half of 2023, Airwallex Singapore witnessed impressive progress, with a 13x increase (1,213%) in year-on-year revenue and an 11x surge (1,015%) in total transaction volume. This growth can be attributed to the recovery of businesses in Singapore after the pandemic and the reopening of the world economy. Concurrently, Airwallex has been expanding its operations and global presence, including a focus on Southeast Asia, where the company aims to further establish itself.
Singapore, known for its robust startup ecosystem, with over 55,000 startups, has become a significant gateway to Southeast Asia and the broader Asia-Pacific region. Recognizing the country’s strategic position and connectivity across the region, Kai Wu, Chief Revenue Officer and Asia-Pacific Executive General Manager of Airwallex, expressed the company’s commitment to strengthen its presence in Singapore. Wu stated, “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.”
Arnold Chan, General Manager of Asia at Airwallex, shared his confidence in the company’s growth in Singapore, highlighting it as one of their fastest-growing markets. Chan emphasized Airwallex’s ongoing investment in Southeast Asia to further expand its operations.
As part of its expansion plans, Airwallex intends to increase its headcount in Singapore to over 200 employees within the next year. The company’s global headquarters, located in Singapore’s vibrant Tanjong Pagar District, further solidifies Airwallex’s strong ecosystem of customers, partners, and collaborators. Notable associations include the Singapore Fintech Association, Australian Trade and Investment Commission, and Visa.
Airwallex has been experiencing significant growth momentum, with recent announcements of its planned acquisition of MexPago and its expansion into Latin America. The company has secured key partnerships in the United States and EMEA regions, including Brex, Public, and OurCrowd. Additionally, Airwallex introduced the ‘Airwallex for Startups’ program in Hong Kong and launched a new Yield product in Australia. These achievements led to Airwallex being named on CNBC-Statista’s ‘World’s Top Fintech Companies 2023’ list earlier this year.
