Airwallex, a global payments and financial platform, has surpassed US$100 billion in annual processing volume, marking a 73% year-on-year increase.

The company’s revenue run rate is now approaching US$500 million, with operations achieving cash flow positivity at the end of 2023.

Airwallex attributed this growth to the company’s strong product-market fit, expansive global infrastructure, and ongoing market expansion.

The company’s presence in North America has been a key driver of this growth, with revenue in the region rising more than 300% year-over-year.

In 2024, Airwallex expanded its footprint in the U.S., Canada, and Latin America, establishing a permanent headquarters in San Francisco and opening offices in Austin and New York.

The company also added team members in Toronto and São Paulo.

In the U.S., Airwallex has built a robust local compliance infrastructure, securing Money Transmitter Licenses or exemptions in 49 states and territories.

The company also expanded into Canada and signed an agreement to acquire MexPago, a Mexico-based payment service provider, further solidifying its presence in the Americas.

Airwallex now has over 1,500 employees across 23 global locations, including more than 100 team members in North America, and serves a customer base of over 100,000.

Airwallex plans to continue expanding its footprint to support its growing customer base, which includes companies like BILL, Brex, Deel, Navan, Rippling, and SHEIN.

“Crossing the US$100 billion threshold and turning cash flow positive solidifies our confidence in the durability and scalability of our business model.

While demand is slowing in many corners of the tech economy, serving the payments and financial operations of global businesses remains a significant market opportunity.”

said Jack Zhang, Co-founder and CEO at Airwallex.

“We’ve built strong local licensing and financial infrastructure here in the U.S. and will continue to expand the coverage of our network across the Americas.

This helps us serve our customers ‘like a local,’ so they can grow their businesses around the world, seamlessly and cost-efficiently. With this approach, we’re able to save our customers US$300 million in fees each year.”

said Ravi Adusumilli, Executive General Manager, Americas, Airwallex.