Airwallex buys Paynuri, eyes Korea expansion

Airwallex enters South Korea with Paynuri acquisition

Airwallex has acquired South Korea’s Paynuri Co Ltd, securing the regulatory permissions it needs to operate directly in one of Asia’s most developed digital economies. The Australia‑founded fintech said the deal gives it Paynuri’s Payment Gateway and Prepaid Electronic Payment Instrument licences, along with a Foreign Exchange Business registration. Financial terms of the transaction were not disclosed.

Co‑founder and president Lucy Liu told Reuters that the acquisition removes the need to rely on third‑party intermediaries in South Korea. By owning licensed infrastructure in the country, Airwallex can integrate local payments and foreign‑exchange services into its global platform, which already serves more than 200,000 companies from 26 offices worldwide.

The acquisition follows a December 2025 Series G funding round that valued Airwallex at $8 billion, about 30% higher than its previous round. The fresh capital has underpinned a push to deepen its presence across Asia, with South Korea now identified as a strategic market.

Planned Korean rollout and hiring

Airwallex plans to introduce a suite of services in South Korea over the next year. The company said it will launch global business accounts and payment acquiring in 2026, enabling Korean businesses to receive and make cross‑border payments through its platform. Later in 2026, it intends to add spend‑management tools to help clients control and analyse their corporate outlays.

To support its expansion, Airwallex aims to build a local team of around 20 people in South Korea by the end of 2026. The hiring will span sales, compliance, client management and product support. Arnold Chan, general manager for Asia‑Pacific, said the country’s fast‑growing ecommerce, creative and entertainment sectors offer opportunities for Korean businesses operating abroad, and that the Paynuri deal marks a pivotal milestone in extending the company’s financial platform.

Scaling a global payments and FX platform

Airwallex is co‑headquartered in San Francisco and Singapore and is backed by investors including Tencent, DST Global and Hillhouse, according to its website. The company focuses on cross‑border payments, foreign exchange and digital financial services for businesses, positioning itself as an infrastructure provider for global commerce.

In December, Airwallex said it had reached $1.2 billion in annualised revenue and $266 billion in annualised transaction volume, underscoring its rapid growth. Liu said the firm’s priority is to strengthen its global network and scale its AI‑driven solutions, adding that management continues to evaluate all options for its future capital strategy while focusing on performance milestones and product development.