The financial platform is looking to tap demand for Korean entertainment and consumer goods
[SINGAPORE] Singapore-headquartered fintech Airwallex has acquired South Korea-based payment processor Paynuri, giving it a foothold in the market.
The acquisition provides Airwallex with a payment gateway and prepaid electronic payment instrument licences, as well as a foreign exchange business registration in South Korea.
The licences allow the firm to operate directly in the country without relying on third-party intermediaries. Initial product launches will include global business accounts and payments for South Korea business customers in 2026.
“Following this initial roll-out, we plan to release successive products, including our AI-powered spend management tools in Korea,” said Arnold Chan, general manager, Asia-Pacific, Airwallex.
The financial platform is looking to tap demand for Korean entertainment and consumer goods, a market projected to reach US$198 billion by 2030.
Airwallex’s edge in South Korea will be its global infrastructure, which will differentiate it from local players focused on domestic customers, Chan added. This also opens up South Korea to the firm’s current customers.
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“This will help such businesses gain customers in Korea while also unlocking their cross-border growth across Asia-Pacific. As an example, Asean markets collectively form South Korea’s second-largest trading partner,” said Chan.
The platform plans to hire 20 employees in South Korea by the end of 2026.
This move follows a recently announced Series G funding round, valuing the company at US$8 billion. Airwallex is now present in over 200 countries and regions with over 200,000 customers.
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The startup established a local presence in 12 new markets in 2025, including Indonesia, Vietnam and New Zealand within Asia-Pacific.
“This acquisition marks a pivotal milestone for Airwallex as we expand the global reach of our financial platform. Korea’s fast-growing e-commerce, creative and entertainment sectors present immense opportunities for Korean businesses on the global stage,” said Chan.
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