Australia-founded fintech Airwallex has acquired South Korea’s Paynuri, securing key local licences that will allow it to operate directly in the country as it accelerates expansion across Asia.
Airwallex said the deal grants it Paynuri’s Payment Gateway and Prepaid Electronic Payment Instrument licences, along with a Foreign Exchange Business registration. Financial terms were not disclosed. Co-founder and president Lucy Liu said the acquisition removes reliance on third-party intermediaries and enables direct operations in South Korea.
The company plans to launch global business accounts and payment acquiring services in South Korea in 2026, followed later by spend-management products. Airwallex also aims to build a local team of about 20 staff by the end of 2026 across sales, compliance, and product support.
The move follows a December funding round that valued Airwallex at $8 billion, around 30% higher than its previous valuation. General manager for Asia-Pacific Arnold Chan said South Korea’s fast-growing ecommerce and entertainment sectors offer strong opportunities for Korean businesses expanding overseas.
Airwallex reported $1.2 billion in annualised revenue and $266 billion in annualised transaction volume in December, underscoring its rapid global growth.