Singapore-based Airwallex is experiencing rapid momentum in Canada, with the company reporting 390% year-over-year revenue growth and a sharp increase in its local customer base.
The fintech, known for enabling seamless international financial operations, officially launched in Quebec in May 2025—becoming one of the few fintech providers active in the province—and is continuing to expand its Toronto-based team. This growth underscores Airwallex’s strong product-market fit among Canadian businesses looking to operate globally.
“We’re seeing strong momentum in Canada, particularly among small and mid-sized businesses with global ambitions,” said Ravi Adusumilli, President of Americas at Airwallex. “These companies are underserved by traditional banks and legacy providers when it comes to managing international payments and financial operations. Airwallex is filling that gap—with faster, more cost-effective solutions that help Canadian businesses grow beyond borders.”
Canada’s international trade accounts for nearly a third of its national income, and many businesses are now seeking modern financial tools to replace legacy systems that struggle with multi-currency, cross-border operations. Airwallex’s platform includes business accounts with foreign exchange management, fast global transfers, virtual Visa cards with no international fees, and robust spend and bill management features.
“We needed a platform that could simplify all these processes, save us money, and allow us to operate efficiently across borders,” said Trung Pham, Founder of RYSE. “I’ve worked with all the fintechs and traditional banks in Canada, and Airwallex is the best.”
In addition to its product expansion, Airwallex is building strategic partnerships to support Canada’s high-growth economy. The company has teamed up with OneEleven, a prominent incubator for scaling startups, to bring its tools to Ontario’s innovation community.
“OneEleven is where Canada’s high-growth companies come to scale, and partnerships like this one with Airwallex are exactly what enables them to do it faster and smarter,” said Simba Wakatama, Head of Partnerships & Experiences at OneEleven.
Airwallex has also partnered with Boundless AI, a capital marketplace for growth-stage companies, to streamline access to capital and global financial infrastructure for SMEs across North America.
As part of its global Series F funding strategy, Airwallex is investing in AI-powered enhancements for its core product and expanding its Canadian presence through sales hiring, marketing, and ecosystem partnerships.
With a mission to help Canadian businesses reach their global potential, Airwallex is positioning itself as a cornerstone of Canada’s modern fintech infrastructure.
Leave a Reply