Airwallex buys Indonesian fintech to boost APAC growth
Airwallex has acquired majority ownership of PT Skye Sab Indonesia, securing direct access to an Indonesian PJP Category 1 payments licence as the Australian-founded fintech steps up its expansion across Asia-Pacific.
The deal gives Airwallex a licensed presence in South East Asia's largest economy. It extends the company's footprint in Asia-Pacific, where it already operates in Australia, China, Hong Kong, Japan, Malaysia, New Zealand, South Korea, Singapore and Vietnam.
PT Skye Sab Indonesia holds a Penyedia Jasa Pembayaran (PJP) Category 1 licence, which covers a wide range of digital payment services in Indonesia's regulated market. Majority ownership gives Airwallex direct control of a local entity in a market with tight rules on foreign providers of payment services.
Airwallex said Indonesian merchants would gain access to its global financial infrastructure as a result of the acquisition. International businesses will also be able to use Airwallex's platform when entering Indonesia.
The company did not disclose financial terms of the transaction.
Regional push
The move comes as Airwallex pursues growth across Asia-Pacific following rapid increases in revenue and payments volumes. In South East Asia and the wider region, the company reported a 108% year-on-year increase in revenue and a 94% year-on-year growth in transaction volume for the third quarter of 2025.
Globally, Airwallex said it had exceeded US$1 billion in annualised revenue and reached US$235 billion in annualised transaction volume. The figures underline the scale of the company's cross-border payments and financial services network.
The Indonesian acquisition follows Airwallex's Series G funding round, in which it raised US$330 million at a valuation of US$8 billion. The valuation represented an increase of about 30% from the previous round completed six months earlier.
Airwallex plans to use the fresh capital to expand in key markets, including Indonesia. It is also investing in its financial infrastructure and in artificial intelligence products.
AI and data strategy
Alongside geographic expansion, Airwallex is developing AI-based tools that sit on top of its banking and payments network. The company has outlined plans for specialised AI agents that streamline financial workflows and increase the speed and accuracy of cross-border operations.
"As AI lowers software costs, infrastructure and data become the ultimate differentiator," said Jack Zhang, Co-founder and CEO, Airwallex. "Airwallex connects the full spectrum of a customer's financial operations-money in, money out, and everything in between-giving our agents the contextual data to execute with precision. This proprietary visibility, built on our scalable financial infrastructure, is what powers agentic finance."
The strategy relies on combining global transaction data with local regulatory permissions. The Indonesian PJP licence gives Airwallex a regulated channel for payment flows within and out of the country, which can then plug into its broader international network.
Indonesia focus
Indonesia is among the fastest-growing digital economies in South East Asia and has a large base of small and medium-sized enterprises that trade domestically and overseas. The government has set out a 2045 Digital Vision that aims to establish the country as a competitive global digital economy, with a focus on innovation, economic resilience and broader access to services.
Airwallex said Indonesia's expanding online economy and its digital policy agenda presented a strategic growth opportunity. The company plans to connect Indonesian businesses to its infrastructure across South East Asia and other regions.
Arnold Chan, General Manager, APAC at Airwallex, said the deal represented a key step in the company's regional strategy. "This acquisition marks a significant milestone for Airwallex as we continue building a truly global financial platform. Indonesia's fast-growing economy and vibrant SME sector present immense opportunities. Our goal is to tackle the financial challenges faced by businesses in Indonesia, empowering them to expand beyond borders," said Chan.
Indonesia has more than 64 million SMEs, which form the bulk of its formal and informal economy. Many of these businesses rely on cross-border payment services for trade, eCommerce, supplier payments and marketplace platforms.
Airwallex said the combination of its global network and PT Skye Sab Indonesia's local payments connections would support Indonesian firms that want to serve overseas customers or suppliers. It said a local presence would also improve support for foreign companies that want to operate in Indonesia.
The company plans to build on its Indonesian base as it continues its South East Asia expansion and rolls out further AI-driven services for cross-border finance.
