rewrite this title Airwallex Acquires Paynuri to Move into Korea – Finovate

Airwallex is acquiring Paynuri to enter South Korea, securing payment gateway, prepaid electronic payment instrument, and foreign exchange business registrations to support cross-border payments and FX services.

The move gives Korean businesses access to Airwallex’s global financial platform, enabling multi-currency spending, international payments, and cross-border expansion.

The acquisition signals intensifying competition in APAC payments, as Airwallex uses its fresh Series G capital to accelerate regulatory access, expand headcount locally, and strengthen its position against regional fintechs and global incumbents.

Commercial payments and banking platform Airwallex is expanding its global reach this week. The Singapore-based company is acquiring Paynuri, an entity that holds payment gateway and prepaid electronic payment instrument licenses in South Korea. Financial terms of the deal are undisclosed.

Airwallex plans to use these licenses to empower companies in Korea to expand across borders by offering Korean businesses a comprehensive platform for managing their financial operations across multiple markets and currencies. The acquisition will also give Airwallex the benefit of Paynuri’s South Korea Foreign Exchange Business registration, an accreditation that will further support cross-border payments and FX services in Korea.

“We are excited by this significant investment by Airwallex into the Korean market,” said Invest Seoul President and CEO Lee Jihyung. “We believe Airwallex’s entry will strengthen the financial operating environment for both Korean and global companies in the market.”

Airwallex’s spending capabilities, for example, allow businesses to manage company spending across multicurrency payment cards, expense management, and bill payments. The company’s multi-currency account facilitates the management of global banking, FX conversion, and international transfers, while its payments offerings allow businesses to accept online and in-store payments across the globe in more than 160 payment methods.

“This acquisition marks a pivotal milestone for Airwallex as we expand the global reach of our financial platform,” said Airwallex General Manager of APAC, Arnold Chan. “Korea’s fast-growing ecommerce, creative, and entertainment sectors present immense opportunities for Korean businesses on the global stage. Our goal is to support these businesses with a more efficient solution to expand beyond borders.”

Airwallex, which already operates across Japan, Hong Kong, Singapore, Malaysia, Indonesia and Vietnam, has been growing rapidly in the APAC region. In 2025, the company reported an 85% year-over-year increase in revenue and a 71% year-over-year boost in transaction volume. Globally, during the month of December 2025, Airwallex achieved $1.2 billion in revenue and recorded $266 billion in transaction volume.

To meet this demand, Airwallex will boost its workforce in Korea with plans to add 20 employees across multiple functions by the end of this year.

Founded in 2015, Airwallex holds 80 licenses and permits that enable customers to operate in 200+ countries and regions and support multi-currency checkout at scale. In 2025 alone, the company extended its regulated and local capabilities across 12 new markets, securing licenses and launching products in France, the Netherlands, Israel, Canada, Korea, Japan, New Zealand, Malaysia, Vietnam, Brazil, Mexico, and the UAE.

Today’s investment comes about six weeks after Airwallex’s $330 million Series G fundraise, which valued the company at $8 billion. Airwallex’s expansion into the Korean market is a direct result of that investment.

By securing payment, prepaid, and foreign exchange approvals in South Korea, Airwallex is positioning itself to serve Korean businesses that are scaling internationally while avoiding the delays associated with organic licensing. The move also strengthens Airwallex’s position against both regional fintechs and global incumbents vying to serve global businesses.

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