Airwallex plans to invest $1.5b in Singapore, expand local workforce

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Airwallex plans to invest more than S$2 billion ($1.5 billion) in Singapore over the next five years and expand its local workforce to more than 1,000 employees, reinforcing the…

Airwallex plans to invest more than S$2 billion ($1.5 billion) in Singapore over the next five years and expand its local workforce to more than 1,000 employees, reinforcing the city-state’s role as one of its two global co-headquarters alongside San Francisco.

The fintech company currently employs more than 750 people in Singapore across commercial, corporate, product and engineering functions. The planned investment will support further hiring, product innovation, technology development and the expansion of its regional and global operations.

The announcement comes months after it raised $320 million in a Series H funding round that values the company at $11 billion. The round was led by existing investor Addition and included participation from Baillie Gifford, Hummingbird, QED Investors, T. Rowe Price, Hedosophia, Haun Ventures, Washington University in St. Louis, and Amex Ventures.

Airwallex said its Singapore business recorded 90% year-on-year revenue growth and a 90% increase in total transaction volume in the first half of 2026, reflecting rising demand for its financial services among businesses operating across borders.

The company said it would focus on building specialised capabilities in areas including product development, engineering and artificial intelligence, with Singapore serving as a base for supporting operations across international markets.

Singapore also serves as a regional hub for Airwallex’s Southeast Asian operations, including its businesses in Malaysia, Indonesia and Vietnam. The announcement coincided with the opening of Airwallex’s expanded co-headquarters in the city state. The co-headquarters is spread over 80,000 square feet across four floors by 2027.

The company established its global headquarters in Singapore in 2023. Its latest investment plans were developed in collaboration with the Singapore Economic Development Board, which said the expansion would bring additional product and AI capabilities and create high-value jobs locally.

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