← Embedded Finance Index 2026

Airwallex

Also a provider — view Airwallex’s profile →

“Can a self-licensed global payments infrastructure company outcompete US-centric processors (Stripe, Adyen) by owning cross-border rails end-to-end?”

Founded2015
HQSan Francisco, USA and Singapore
FoundersJack Zhang, Max Li, Lucy Liu, Xijing Dai, Ki-lok Wong
Total raised$1.5B
Latest roundSeries H, 2025
Valuation$8B (December 2025)
IndustryInfrastructure / Payments
The story

Founded 2015 in Melbourne as a cross-border FX and payments platform for SMBs. Expanded from FX/payouts into a full financial platform — business accounts, cards, spend management, treasury, yield, and increasingly embedded finance / BaaS for platforms. Now positions itself as the 'unified payments and financial platform' competing with Wise, Stripe, and Adyen on global reach through its own 85+ license footprint rather than sponsor-bank rails.

Last 12 months
2025
2025-12
Product timeline
2015
Founded in Melbourne, Australia as a cross-border payments platform· pivot
2023
Expanded into investment/yield products· banking
2025
Series F at $6.2B valuation, later Series H at $8B· banking
Regulated entities
1
regulatory licence held by Airwallex
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
In the press
Coverage sourced from Embedded Finance Review, Rebank. All articles are © their original authors; click any card to open the source.
🎙 interview2026-05-07
Why Embedded Finance Wins Where Banks Can't Reach, with Tom Sellin from Airwallex
Airwallex Head of Growth DACH Tom Sellin on the embedded finance API, who is already using it, and what it takes to bring a global fintech to the German market.
airwallex
Source · Embedded Finance Review ↗
◇ article2026-03-04
Airwallex launches in Germany & 9 More February Stories
Ten embedded finance stories, two podcast episodes, and an April Berlin event with 50% of tickets already gone. February roundup from Embedded Finance Review.
airwallex
Source · Embedded Finance Review ↗
◇ article2026-02-10
Amazon Germany scales seller lending to €5M + Airwallex invests €31M in DACH
This week: Amazon scales seller lending to €5M with Banxware, Airwallex launches in Germany with €31M investment, QuickBooks enters UK lending.
airwallex
Source · Embedded Finance Review ↗
◇ article2026-02-03
Airwallex Expands to DACH with €31 Million Investment
Airwallex launches in Germany with €31M investment. The Australian payments platform targets SMEs and embedded finance partnerships across the DACH region.
airwallex
Source · Embedded Finance Review ↗
◇ article2025-07-18
Dext Partners with Airwallex to Launch Embedded Payments Solution
Dext partners with Airwallex to launch embedded payments solution for accounts payable automation. Analyzing the strategic implications for accounting providers.
airwallex
Source · Embedded Finance Review ↗
🎙 interview2025-06-03
Lessons Learned from 10 Years in Embedded Finance, with Luke Voiles
Luke Voiles on building embedded lending from modular infrastructure — what to buy, what to build, and how the stack changes market by market.
Luke Voiles · CEO, Pipe
“Modern Treasury wasn’t optimal in the UK, so we swapped in Airwallex and GoCardless to handle payments.”
marqetagocardlessairwallex
Source · Rebank ↗
◇ article2025-03-09
Lexware Expands Financing Stack + Airwallex Targets Creators
Lexware adds Youlend to its financing partners; Airwallex launches new products tailored for the creator economy and UniCredit's strategic acquisition in the banking-as-a-service market.
airwallex
Source · Embedded Finance Review ↗
◇ article2024-07-08
Deel launches a card with Airwallex, but invests in a competitor?
Deel launches contractor card with Airwallex after investing in competitor Alviere. Why the global HR platform needs multiple embedded finance infrastructure providers.
airwallex
Source · Embedded Finance Review ↗
The stack
7 layers disclosed in Airwallex’s embedded-finance stack
Payments / PSP
Airwallex Payments (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: none
10 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.