Tencent-backed fintech Airwallex to invest in the Netherlands

[GDANSK] Australian payment firm Airwallex said on Monday (Jan 5) that it will invest around 200 million euros (S$301 million) over the next five years in the Netherlands, marking a major European expansion as it shifts focus from its Asia-Pacific base.

The Melbourne-founded fintech plans to increase its Amsterdam headcount by 60 per cent to around 70 full-time employees by the end of 2026.

Founded in 2015, Airwallex operates a global payments platform enabling businesses to send and receive international payments, hold multi-currency accounts and process online transactions.

Airwallex raised US$13 million in a Series A round led by Chinese Internet giant Tencent in 2017.

Recent funding rounds include US$300 million in May 2025, which pushed its valuation past US$6 billion, and an additional US$330 million Series G round in December 2025, bringing its valuation to US$8 billion. The company also surpassed US$1 billion in annual recurring revenue last year.

The company said in 2024 that it was aiming to be ready for an initial public offering (IPO) in 2026. Airwallex declined to comment on its IPO plans.

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The investment comes as Airwallex says it will prioritise growth in Europe and the Americas after a decade focused on Australia and Asia-Pacific markets. The company received a licence in the Netherlands in May 2021, giving it access to the European Economic Area.

Airwallex served more than 150,000 customers as at October 2025, including Shein, Bolt, TikTok and Canva. The company now competes with established European payment processors including Netherlands-based Adyen and Mollie, as well as Dutch digital bank Bunq. REUTERS