Airwallex Gains Momentum in Canada as Demand for Global Payments Grows

• Airwallex reports 390% growth in revenue in Canada, amid growing demand for cross-border tools among Canadian businesses. Continued product and headcount expansion regionally. 

• Airwallex partners with OneEleven and Boundless AI to support Canadian businesses.

[Toronto, Ontario] – [June 25, 2025] – Airwallex, a leading global payments and financial platform, today announced significant momentum in its Canadian operations, demonstrating rapid growth in revenue and customer base and strong product-market fit among Canadian businesses on the international stage. 

In the past 12 months, Airwallex has seen a 390% growth in revenue in the region, solidifying its position as a key player in the Canadian fintech sector. The company has significantly grown its Canadian operations with the launch of services in Quebec in May 2025—making it one of the few fintechs operating in the province—and a rapidly expanding Toronto team that continues to scale.

“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.”

Canadian Businesses are Going Global, but Legacy Tools Can’t Keep Up

Airwallex’s traction in Canada speaks to the rising demand for modern financial tools that support global business. Canada boasts a robust economy, with its GDP estimated at over $2.1 trillion. Consequently, Canadian businesses are deeply integrated into the global marketplace, where international trade accounts for nearly one-third of national income. Legacy banking and payment systems have not kept pace with the needs of Canada’s globally connected businesses, especially those navigating multiple currencies, markets, and platforms.

Future-Focused Innovations Tailored for Canadian Businesses

Airwallex is a purpose-built fit for the globally connected economy. 

Canadian businesses have access to a growing list of Airwallex’s offerings, including:

• Business Accounts: Manage currencies and foreign exchange (FX), make high-speed international transfers, and earn competitive rates on your funds.

• Spend Management: Upload receipts, submit expense reports, and send through approval flows.

• Bill Pay: Upload, approve, pay, and reconcile your domestic and international bills all within your Airwallex account.

• Borderless Visa® Cards: Instantly generate and issue virtual cards and transact in multiple currencies with zero international fees.

The company will continue rolling out its complete suite of financial products throughout 2025.

"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, RYSE. "I’ve worked with all the fintechs and traditional banks in Canada, and Airwallex is the best."

Airwallex Expands Strategic Partnerships

Airwallex is proud to partner with OneEleven, Canada’s premier incubator for late-stage startups. Together, they support Canada’s most promising scaleups as they grow globally. Through this collaboration, Airwallex is helping innovative Canadian businesses streamline their financial operations and expand into new markets with ease.

“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. “By bringing world-class financial tools to OneEleven’s innovation community, we’re helping Ontario companies streamline operations, expand globally, and compete at the highest level. It’s a strong reflection of what OneEleven stands for: unlocking growth through the right support, infrastructure, and ecosystem connections.”

Additionally, Airwallex partnered with Boundless AI, a capital marketplace for high-growth companies, to streamline access to capital and global financial infrastructure for small and medium-sized enterprises (SMEs) across the U.S. and Canada.

These partnerships allow Airwallex to support a diverse range of high-growth businesses, from e-commerce and SaaS companies to startups and digitally forward professional services firms. Airwallex is particularly adept at supporting companies with global expansion, as demonstrated by our work with businesses expanding into APAC, the US, and EMEA.

Continuing Momentum

As noted in the company’s Series F funding announcement, a portion of the raise is being invested into global capabilities like AI to enhance its core product, security, and fraud prevention for all markets, including Canada. Significant capital is also being allocated for go-to-market investment specifically in Canada, including expanding its sales team, boosting marketing efforts, and strengthening its brand through strategic sponsorships, events, and partnerships that directly benefit the Canadian business ecosystem.

Airwallex is not just growing its business; it's actively working to contribute to the Canadian economy by tailoring its solutions to meet the unique needs of its dynamic businesses. Airwallex is excited to continue this journey, empowering Canadian companies to reach their global potential.

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About Airwallex

Airwallex is a leading global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury, and spend management to embedded finance. With our proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders. Proudly founded in Melbourne, Airwallex supports over 150,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more. For more information, visit http://www.airwallex.com