Airwallex to invest more than S$2 billion in Singapore, grow headcount here to over 1,000

[SINGAPORE] Payments platform Airwallex plans to invest more than S$2 billion in Singapore and grow its workforce in the Republic to more than 1,000 employees over the next five years.

The investment will support the company’s development of specialised capabilities in product development, engineering, artificial intelligence and global operations, said chief revenue officer Kai Wu.

Speaking at the opening of Airwallex’s expanded Singapore office at Guoco Tower on Wednesday (Nov 11), he noted that the investment is “a strong statement about confidence in Singapore and the role it will play in Airwallex’s future”.

Speaking at the same event, Minister of State for Foreign Affairs Alvin Tan said that that Singapore aims to remain an attractive destination for companies looking to grow and innovate.

The Republic’s ambition is to become a “sticky” place for businesses like Airwallex, offering access to clients, major companies, legal expertise and professional services to support their growth, added Tan, who is also minister of state for national development and a board member of the Monetary Authority of Singapore (MAS). “We are not just helping make it easier for you to grow in Singapore, but we are building this ecosystem.”

He cited the roles of MAS and EDB in strengthening the business environment, including MAS’ launch of the Future of Finance Institute.

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Expanded headquarters

Airwallex said that its latest pledge boosts its “long-term commitment to Singapore as one of its two global co-headquarters, alongside San Francisco”.

Arnold Chan, Airwallex’s general manager for the Asia-Pacific, pointed out that Singapore is central to the platform’s global ambitions. “Its talent, innovation ecosystem and connectivity make it a natural home for one of our global co-headquarters, and a key base for driving our next phase of growth,” he added.

Since establishing its Singapore office in 2023, Airwallex has grown its workforce in the Republic to about 750 employees across commercial, corporate, product and engineering functions.

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The company plans to grow its physical presence in Singapore, with the expansion of its Guoco Tower office being part of this. Its total office space will exceed 80,000 square feet across four floors, after the addition of office space on the building’s 35th floor and “another floor scheduled for occupancy in early 2027”.

Under the planned Singapore expansion, Airwallex employees here will have opportunities to work in areas such as product development, engineering and AI, and in turn “contribute to the company’s global operations and innovation”.

“As AI transforms financial services, we believe Singapore has the talent, infrastructure and ambition to play a leading role in this next chapter,” Wu said.

In the first half of 2026, Airwallex Singapore recorded year-on-year revenue growth of 90 per cent, alongside a 90 per cent increase in total transaction volume.

Founded in Melbourne, Australia, in 2015, Airwallex’s financial infrastructure supports products including payment acceptance, billing, global accounts, corporate cards and spend management.

The platform has supported Singapore businesses seeking to expand internationally, including Far East Flora, Love, Bonito, Stryv and HipVan.

In June, the company raised US$320 million in a Series H funding round, valuing the company at US$11 billion.

The round was led by existing investor Addition, alongside T Rowe Price and Amex Ventures, the corporate venture arm of American Express, among others.

This followed a US$330 million Series G funding round in December 2025, which valued the company at US$8 billion.