Airwallex Acquires Paynuri to Enter South Korea and Expand Global Financial Platform Footprint

Airwallex, the global financial infrastructure platform, has completed the acquisition of Paynuri Co. Ltd., a licensed payments company in South Korea — marking a major milestone in its Asia-Pacific expansion strategy. This acquisition enables the fintech to operate directly in South Korea by securing critical regulatory licences, including Payment Gateway and Prepaid Electronic Payment Instrument licences as well as a Foreign Exchange Business registration.

The move is part of Airwallex’s broader ambition to build out its global financial platform — supporting businesses with seamless cross-border payments, global business accounts, spend management and more — while helping Korean enterprises unlock international growth opportunities.

Why This Acquisition Matters

Airwallex’s purchase of Paynuri represents a strategic leap in its efforts to expand into one of Asia’s most dynamic digital economies. South Korea’s commerce ecosystem — driven by booming sectors like e-commerce, entertainment, gaming, and tech exports — presents ample opportunity for financial services that help businesses operate globally with ease.

Securing Licensed Footing

Before the acquisition, Airwallex relied on third-party partners to service Korean transactions. With Paynuri’s licences, it can now offer regulated financial services directly — enabling greater control, reduced reliance on intermediaries, and stronger compliance with local regulatory frameworks.

These licences are critical in a country where financial regulation is robust and licensing is a gateway to offering services like corporate accounts, FX conversion, local payment acceptance and other regulated functions.

A Local Launch with Global Ambition

With the acquisition complete, Airwallex plans an initial product rollout in 2026 that will focus on:

• Global Business Accounts: Providing Korean businesses with multi-currency accounts to manage finances, FX conversions, and international transfers through a single platform.
• Payments Acquiring Services: Enabling local merchants to accept online and in-store payments — including card and 160+ local payment methods — while offering a seamless multi-currency experience for customers worldwide.
• Spend and Treasury Tools: Offering AI-powered spend management, corporate card solutions, bill payment and expense workflows to support operational efficiency.

Airwallex intends to grow its local workforce to around 20 employees in South Korea by the end of 2026 across functions such as sales, compliance, product support and client management.

Context: Airwallex’s Global Expansion Trajectory

The acquisition of Paynuri comes on the heels of Airwallex’s $330 million Series G funding round in December 2025, which increased its valuation to approximately $8 billion — up roughly 30% from its previous valuation.

Airwallex now serves more than 200,000 companies in over 200 countries and regions, with global operations supported by a broad portfolio of licences and local market access points. Its infrastructure underpins a range of financial services, including cross-border payments, corporate accounts, foreign exchange, spend management and embedded finance.

In recent years, the company has expanded its licensed footprint across Asia — including markets like Japan, Hong Kong, Singapore, Malaysia, Indonesia and Vietnam — and this latest acquisition strengthens its position in a key market with deep global trade links.

Strategic Importance of the Korean Market

South Korea’s economy is a global export powerhouse, with thriving digital services, entertainment (including K-pop and gaming), and advanced manufacturing sectors. The country’s e-commerce market and international trade flows make it an attractive region for financial platforms that support both local exporters and foreign companies selling into Korea.

By establishing a direct presence, Airwallex can help local businesses:

• Access international markets more efficiently with multi-currency tools.
• Simplify cross-border operations without multiple intermediaries.
• Leverage advanced spend and treasury tools that increase operational agility.

In turn, this strengthens Airwallex’s global network by integrating one of Asia’s most important financial hubs more deeply into its infrastructure.

Voices From Airwallex Leadership

According to Arnold Chan, General Manager for Asia-Pacific at Airwallex, the Paynuri acquisition “marks a pivotal milestone for Airwallex as we expand the global reach of our financial platform.” He pointed to the rapid growth of the Korean e-commerce, creative and entertainment sectors as a key driver for enabling businesses to scale both domestically and internationally using Airwallex’s infrastructure.

Moreover, Lucy Liu, Co-founder and President of Airwallex, reiterated that the acquisition enables the fintech to “operate directly in South Korea without the traditional reliance on third-party intermediaries,” streamlining regulatory compliance and product deployment.

Competitive Landscape and Broader Implications

Airwallex’s entry into South Korea places it in closer competition with both regional and global players seeking market share in local payment infrastructure. Fintechs like Stripe, PayPal and local Korean platforms have been active in the region, but having local licencing and direct operational authority gives Airwallex a strategic edge — especially for serving enterprise clients and fintech partners that require regulated infrastructure.

This move also reflects a broader trend of fintech consolidation and global expansion through acquisition — especially in Asia, where local licences are often prerequisites for meaningful scale. Regulators in the region have increasingly emphasised security, compliance and consumer protections, making licensed entities attractive acquisition targets for global fintechs seeking accelerated market entry.

Looking Ahead: Growth and Innovation

As 2026 progresses, Airwallex is expected to roll out its first wave of services in South Korea, starting with global business accounts and payments acquiring before introducing additional tools like spend management and corporate treasury services.

The company’s strategic vision suggests that local operations will serve as a base for deeper innovation — potentially including data-driven treasury solutions, AI-powered financial intelligence, and advanced cross-border liquidity tools tailored for multinational enterprises and local Korean businesses alike.

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