Singaporean fintech unicorn Airwallex has its sights set on UK expansion after a period of rapid growth.
The cross-border payment specialist – which counts Shein, Brex and Rippling among its customers – recorded a 95 per cent annual jump in global revenue to $850m in the last year, with UK takings jumping 109 per cent to over £37m.
Airwallex attributed the growth to a rise in deals, which have included landmark partnerships with Arsenal FC, Bolt and McLaren Racing.
In a bid to drive UK growth the firm is set to “aggressively expand its local team,” City AM can reveal, with a new London office set to be the headquarters for Europe, Middle East and Africa.
The Fitzrovia office will double the current office footprint, which comes after a 35 per cent annual expansion of the London team smashing triple digits.
Airwallex sees UK demand
According to its most recent Companies House filing, in the UK Airwallex had revenues of £17.9m and gross profit of £12.4m.
The firm counts over 1,800 employees globally across 26 offices.
Kai Wu, Airwallex’s chief revenue officer, said Airwallex’s growth reflected an increased demand for “modern alternatives to traditional banking and payments infrastructure” in the UK.
The fintech was most recently valued at $6.2bn after a round of Series F funding in May 2025. Investors include Mastercard, Sequoia and Visa.
Wu has pegged 2026 as the firm’s target to be “IPO-ready in terms of internal growth and governance” as speculation mounts for a major listing.
But founder Jack Zhang poured cold water over hopes of a London IPO in May, telling City AM the tariff-induced volatility in the US “does not change the overall competitive positioning of the US stock market”.
“The US has drawn companies away from the London Stock Exchange (LSE) as US capital markets are typically more liquid and have a broader bench of institutional investors with fintech expertise who can ascribe value,” he added.
Chancellor Rachel Reeves launched a fleet of policies as a part of the Treasury’s Financial Services Growth and Competitiveness Strategy in a bid to galvanise fintech listings as a number of big names look to float.