Airwallex

Airwallex operates a financial platform for businesses that combines cross-border banking infrastructure with software and AI. Its product set spans business accounts (multi-currency global accounts to collect and hold funds in 20+ currencies, FX and transfers to 200+ countries at interbank rates), spend management (multi-currency corporate cards, expense management, bill pay and accounting integrations with QuickBooks, Xero, NetSuite and Dynamics 365 Business Central), online payment acceptance (checkout, payment links, plugins for Shopify, WooCommerce and Magento, 160+ local payment methods), billing (invoicing, subscription management and usage-based billing), and Platform APIs for embedded finance including connected accounts, accounts, payouts, transactional FX and card issuing.

The company describes itself as an AI-native financial operating system and is extending into what it calls autonomous finance and agentic commerce. In December 2025 it previewed specialized AI agents for financial workflows, starting with an Expense Submission Agent and an Expense Policy Agent inside its spend management platform. In June 2026 it announced T:0, an AI-native platform in private beta intended to automate bookkeeping, forecasting, tax, compliance and reporting for a company's full finance function, and Airi, an agentic consumer wallet that launches with one-click checkout and is planned to add delegated agent payments, spend limits, permission controls and multi-currency balances.

Airwallex operates on a regulated backbone of more than 85 licenses and permits across North America, Europe, the Middle East and Asia-Pacific, supporting customers in 200+ countries and local transfers in 120+ countries. Developer resources include APIs, SDKs, webhooks and a sandbox environment, with documented embedded-finance use cases covering global treasury, banking-as-a-service and payments for platforms.

Founding story

Airwallex traces its origin to 2015, when CEO Jack Zhang and fellow entrepreneurs opened a coffee shop in Melbourne and encountered the cost, delay and inefficiency of cross-border payments and foreign exchange while sourcing goods from overseas. They founded Airwallex to build an alternative to legacy cross-border finance infrastructure.

Business model

Airwallex sells financial infrastructure and software directly to businesses and also to platforms and marketplaces that embed its services in their own products. Software plans are tiered: a free Explore plan, a Grow plan at $12 per active spend user per month plus a platform fee based on team size, and a custom-priced Accelerate plan for large businesses; Platform API and embedded finance use cases are priced through sales. More than 90% of revenue comes from customers using more than one Airwallex product.

Revenue comes from subscription fees per spend user and per legal entity plus per-transaction charges, including FX margins of 0.5% above interbank rates for major currencies and 1.0% for others, SWIFT transfer fees of $15-$25 per transfer, and payment processing fees. Interest-bearing Yield accounts on USD balances (advertised at 3.20%-3.47% depending on plan) and card programs with up to 2% cash rebates on local USD spend are additional platform components.

Traction

As of March 2026 the company reported $1.3 billion in annualized revenue, up 74% year over year, and $287 billion in annualized transaction volume, up more than 120% year over year, with more than 90% of revenue from multi-product customers. It reports more than 200,000 direct business customers and over 676,000 businesses served including via platform customers, 93% of transfers settled same day and 50% processed instantly, and more than 2,300 employees. In October 2025 annualized revenue had surpassed $1 billion, up 90% year over year, on annualized transaction volume of more than $235 billion.

Latest developments

In June 2026 Airwallex raised $320 million in Series H funding at an $11 billion valuation, led by returning investor Addition, and announced T:0 (an AI-native autonomous finance platform in private beta) and Airi (an agentic consumer wallet). It appointed a Chief Financial Officer in June 2026, announced a collaboration with Visa in July 2026 to build financial infrastructure for freight and shipping platforms, and added Affirm pay-over-time options for US shoppers in August 2026. Proceeds are earmarked for autonomous finance and agentic commerce product development, regulatory expansion into new markets, and AI engineering hiring.