Airwallex announced that it delivered triple-digit revenue growth in Singapore for the second consecutive year, highlighting the country’s role as a central hub for the company’s Asia-Pacific expansion strategy. The global payments and financial platform reported that its FY2025 revenue in Singapore increased 107% year over year, while transaction volume rose 93% during the same period.
The company said Singapore continues to serve as a key operational and strategic base. Airwallex operates dual headquarters in Singapore and San Francisco and uses its Singapore operations to spearhead expansion across the Asia-Pacific region. In 2025, the company entered new markets, including Indonesia, Vietnam, and South Korea.
Airwallex also expanded its presence locally by adding customers such as Minor Hotels, HipVan, Lovet, J&Co Jewellery, and Motherswork. The company continues to support other regional brands, including GlobalTix, Endowus, and Love, Bonito, as they manage cross-border financial operations.
The company significantly expanded its workforce in Singapore in 2025. Headcount grew by 62% across corporate, commercial, and product, engineering, and design teams. The product, engineering, and design division recorded the largest increase with 130% growth, reflecting continued investment in artificial intelligence, data capabilities, and engineering resources. Airwallex expects Singapore headcount to grow by more than 70% by the end of 2026.
Airwallex also released findings from a survey of 250 small and medium-sized enterprise decision-makers in Singapore that examined business priorities amid rising costs and economic uncertainty.
According to the study, rising expenses have become the top challenge facing SMEs, with 73% citing cost inflation as a major concern in 2026, up from 62% the previous year. Workforce shortages and anticipated cash flow challenges remain issues but have eased slightly.
Despite cost pressures, many SMEs continue to pursue expansion plans. Among those planning overseas growth, more than 97% expect to expand internationally within the next 18 months. Southeast Asia remains the most attractive destination, with Malaysia, Thailand, and Vietnam emerging as the top markets.
The survey also found that businesses are becoming more disciplined in their spending strategies. The share of SMEs planning to increase spending fell from 76% in 2025 to 58% in 2026, while those maintaining their current spending levels rose significantly.
Adoption of fintech tools is accelerating as companies look for ways to improve efficiency and manage complexity. The proportion of SMEs using digital financial platforms increased from 38% in 2025 to 57% in 2026.
Airwallex noted that confidence among SMEs remains relatively strong. The report found that 67% of respondents remain optimistic about the global business environment, and 70% believe the Singapore government provides adequate support for businesses expanding overseas.
Founded in Melbourne in 2015, Airwallex provides a global financial infrastructure platform used by more than 200,000 companies to manage international payments, accounts, billing, corporate cards, and spending. The company holds about 80 licenses across North America, Europe, the Middle East, and Asia-Pacific and employs more than 2,000 people across 26 offices worldwide.
KEY QUOTES:
“2024 was our launchpad, and 2025 solidified our lead in Singapore. In 2026, we will look to seal our leadership position across the region, building upon our momentum in Singapore. Singapore is the engine room for our APAC expansion, and our performance here reflects a deliberate strategy of combining deep local trust with a relentless focus on execution. By staying agile to our customers’ needs and deepening our strategic partnerships, we are ready to deliver yet another standout year by driving growth for both Airwallex and the businesses that rely on our financial infrastructure to achieve their global ambitions.”
Arnold Chan, General Manager, Asia-Pacific (APAC), Airwallex
“These findings confirm a fundamental shift. SMEs are adapting strategically – trading broad market ambition for strategic discipline. While cost pressures are intensifying, businesses are not retreating – they are recalibrating. They continue to invest, but selectively. SMEs are also accelerating digital adoption, and focusing on regional markets where they see a stronger path to winning growth. Speed, efficiency and regional connectivity are becoming decisive advantages for them.”
Arnold Chan, General Manager, Asia-Pacific (APAC), Airwallex
