Airwallex now processing $100b annually

This was anchored by its Americas expansion and APAC revenue growth.

Airwallex now processes over US$100b annually.

The payments and financial platform reported a 73% year-on-year (YoY) growth in annual processing volume in August 2024. It now has a run rate revenue approaching $500m, according to a press release.

The 9-year-old Singapore-headquartered financial technology (fintech) company offers payments, foreign exchange (FX), payouts, and issuing, amongst other finance services.

In Asia, revenue is reportedly up 71% YoY, and up 690% YoY in Singapore as of Q2 2024.

Transaction volume in APAC and Singapore grew by 53% and 282% over the same period, respectively.

Airwallex attributed the growth to its expansion in the Americas.  Revenue from the region rose 300% in 2024.

Airwallex secured Money Transmitter Licenses (MTL) or exemptionns across 49 US states. It now has a permanent US headquarters in San Francisco, California, and offices in New York and Texas, and teams in Toronto and Brazil.

Airwallex said that it plans to continue growing its Americas footprint to support its 100,000+ customer base, which includes brands like BILL, Brex, Deel, Navan, Rippling, and SHEIN.

(All figures in US dollar)