Airwallex buys Paynuri to expand fintech reach in Korea

Airwallex has acquired Paynuri in South Korea, adding local payment and foreign exchange licences that broaden the fintech's regulatory footprint in Asia.

Paynuri holds Payment Gateway and Prepaid Electronic Payment Instrument licences, along with a Foreign Exchange Business registration. Airwallex said the deal gives it a licensed base in Korea and adds to its presence in Japan, Hong Kong, Singapore, Malaysia, Indonesia and Vietnam.

The company positioned the move as part of a wider push across Asia-Pacific commercial hubs. Airwallex said it intends to offer its products to Korean firms and to international companies operating in the Korean market.

Licences and access

The Korean licences cover payment processing, prepaid electronic payment instruments and foreign exchange activity. Airwallex said it will use these approvals as the foundation for product launches in the country.

Global business accounts and payment acquiring are set to be the first services introduced in Korea after the acquisition. Airwallex also flagged further releases in 2026.

In its product description, Airwallex said Korean businesses will be able to open multi-currency accounts for banking, foreign exchange conversion and international transfers. The company also referenced online and in-store payments, including card payments and local payment methods, plus spend management functions such as corporate and employee cards, expense management and bill payments.

Growth figures

Airwallex reported growth in Asia-Pacific in 2025. It said revenue in the region increased 85% year on year, and transaction volume rose 71%.

At a global level, Airwallex said it reached USD $1.2 billion in annualised revenue and USD $266 billion in annualised transaction volume in December 2025.

The company also referenced a recent Series G fundraise that valued Airwallex at USD $8 billion. It said the valuation represented an increase of about 30% from the previous round. Airwallex said it is investing capital into licensed financial infrastructure in markets including Korea.

Sector focus

Airwallex highlighted Korea's eCommerce, creative and entertainment sectors in its statement on the acquisition.

"This acquisition marks a pivotal milestone for Airwallex as we expand the global reach of our financial platform. Korea's fast-growing eCommerce, creative and entertainment sectors present immense opportunities for Korean businesses on the global stage. Our goal is to support these businesses with a more efficient solution to expand beyond borders," said Arnold Chan, General Manager, APAC, Airwallex.

The company also cited the international demand for Korean entertainment and consumer goods. It described the market as projected to reach USD $198 billion by 2030.

Invest Seoul, the investment promotion agency for the city, also commented on the entry of Airwallex into the Korean market.

Invest Seoul described Airwallex's move as an investment into Korea and linked it to the operating environment for companies in the country.

"We are excited by this significant investment by Airwallex into the Korean market. We believe Airwallex's entry will strengthen the financial operating environment for both Korean and global companies in the market. Invest Seoul will continue to collaborate closely with Airwallex to accelerate the digital transformation journey for Korean businesses, and to support more global companies in entering Seoul and operating their businesses successfully," said Lee, Jihyung, President & CEO, Invest Seoul.

Hiring plans

Airwallex said it plans to expand its local operations through hiring across multiple functions in 2026. It set a target of 20 employees in Korea by the end of the year.

The acquisition adds Korea to Airwallex's list of key Asian markets where it holds regulatory permissions and runs local operations. The company said it will begin with global business accounts and payment acquiring, with additional product releases planned across 2026.