Singapore: Airwallex to Invest Over S$2 Billion, Grow Co-HQ Team Past 1,000 Staff
Airwallex, the cross-border payments company founded in Melbourne in 2015, says it will invest more than S$2 billion (roughly US$1.5–1.6 billion) in Singapore over the next five years. It also plans to grow its local team from about 750 people to more than 1,000, and on 11 November it opened an enlarged office for its Singapore co-headquarters.
Key facts
- Airwallex plans to invest more than S$2 billion (Singapore dollars) in Singapore over five years.
- Its Singapore headcount of about 750 is due to rise to more than 1,000, an increase of around 250 roles focused on product development, engineering and artificial intelligence (AI).
- Singapore is one of the company’s two global co-headquarters, alongside San Francisco. It set up its global headquarters in the city-state in 2023.
- The office at Guoco Tower in Tanjong Pagar will cover about 80,000 square feet across four floors, with the last floor due to be occupied in early 2027.
- Airwallex says its Singapore revenue and total transaction volume both grew about 90% year on year in the first half of 2026.
What Airwallex is building
Airwallex sells payment and finance tools to businesses rather than consumers. Its platform lets a company hold money in several currencies in one account, send fast international transfers, accept online payments from overseas customers, and issue corporate cards with built-in expense management. For a small exporter or an online shop selling across borders, this replaces a patchwork of bank accounts, foreign-exchange desks and separate payment providers.
The company says the new money will go into product innovation, technology capabilities and its global and regional operations. The extra hires are aimed at specialised, high-value work: building products, engineering the platform and applying AI. Arnold Chan, Airwallex’s general manager for Asia-Pacific, described Singapore as central to the company’s global ambitions.
Singapore’s Economic Development Board (EDB), the government agency that attracts foreign investment, welcomed the move. Herman Loh, who co-leads the EDB’s digital industry team, said the investment would create jobs and reflected Singapore’s role as a fintech innovation hub and a base for firms expanding across Southeast Asia. No government grants or incentives were mentioned in the announcement.
Why it matters
Cross-border business payments are one of the most competitive corners of fintech in Asia. Banks, card networks and fintech firms are all racing to make it cheaper and quicker for companies to pay suppliers and get paid in other currencies. A multi-year spending commitment of this size signals that Airwallex sees Singapore as its main engine for Asia, not just a sales office.
For Singapore, the deal adds to its pull as the region’s preferred base for payment companies, thanks to its clear licensing regime under the Monetary Authority of Singapore (MAS), its talent pool and its links to the rest of Asia. The focus on engineering and AI roles, rather than only sales staff, is the kind of investment the city-state has been trying to attract.
There is also a regional angle. Airwallex runs its Southeast Asian operations from Singapore, including its businesses in Malaysia, Indonesia and Vietnam. More product and engineering capacity in Singapore could therefore shape the tools that Malaysian SMEs and online sellers using Airwallex receive, such as multi-currency accounts and payment collection for overseas sales.
The announcement follows a strong year for the company. In June 2026 Airwallex raised US$320 million in a Series H funding round that valued it at about US$11 billion, giving it plenty of capital to spend on expansion.
What to watch
- Whether Airwallex launches new products for Southeast Asian SMEs built by its expanded Singapore team, especially AI-driven finance tools.
- How quickly it fills the roughly 250 new roles in a tight market for fintech engineers.
- Whether rivals in cross-border payments answer with their own regional investments in Singapore.
Related on FinDeskAsia: Payment gateways in Malaysia explained and ASEAN’s cross-border QR payments record.
Sources: TNGlobal (November 2026), DealStreetAsia (November 2026), CNA via Red Hot Singapore (November 2026).
