AirWallex Exceeds US$100 Billion in Volume Processing Amid Global Expansion

Airwallex, a global payments and finance platform, recorded annual processing volume of over US$100 billion, a 73% increase over the previous year.

The company’s revenue run rate is currently approaching US$500 million and it expects to be cash flow positive from operations by the end of 2023.

Air War Rex The company attributes this growth to its strong product-market fit, scalable global infrastructure and continued market expansion.

The company’s presence in North America has been a key driver of this growth, with revenue in the region increasing more than 300% year-over-year.

In 2024, Airwallex expanded its operations across the United States, Canada and Latin America, remaining headquartered in San Francisco and opening offices in Austin and New York.

The company has also added team members in Toronto and Sao Paulo.

In the United States, Airwallex has built a robust local compliance infrastructure and holds money transmitter licenses or exemptions in 49 states and territories.

The company also expanded into Canada and signed an agreement to acquire Mexico-based payments services provider MexPago, further solidifying its presence in the Americas.

Airwallex currently has more than 1,500 employees in 23 locations worldwide, including more than 100 team members in North America, serving more than 100,000 customers.

Airwallex plans to continue expanding its reach to support its growing customer base, which includes companies such as BILL, Brex, Deel, Navan, Rippling and SHEIN.

“Crossing the US$100 billion threshold and turning cash flow positive strengthens our confidence in the durability and scalability of our business model.

While demand has slowed in many sectors of the technology economy, servicing the payments and financial operations of global enterprises remains a huge market opportunity.”

Airwallex co-founder and CEO Jack Chan said:

“We have built a strong local licensing and financial infrastructure in the United States and will continue to expand our network reach across the Americas.

This allows us to serve our clients ‘like a local’ and enable them to seamlessly and cost-effectively expand their business around the world. This approach saves our clients $300 million in annual fees.”

“Airwallex is committed to providing the best possible service to our customers,” said Ravi Adasmiri, executive general manager, Americas, Airwallex.