Airwallex buys Paynuri to launch payments in Korea
Airwallex has acquired Paynuri in South Korea, securing local payments and foreign exchange registrations as it prepares to launch services for Korean businesses and international firms operating in the country.
Paynuri holds Payment Gateway and Prepaid Electronic Payment Instrument licences, alongside a Foreign Exchange Business registration. Airwallex said the deal gives it a licensed route into the Korean market.
The company said it plans to introduce global business accounts and payment acquiring in Korea as the first product launches following the acquisition. It said it expects further releases in 2026.
Airwallex positioned the move as part of its broader effort to expand regulated infrastructure across key markets. The company recently completed a Series G funding round of USD $330 million. It said that round valued Airwallex at USD $8 billion.
Market entry
Airwallex described Korea as an important commercial hub in Asia and said the addition extends its licensed footprint across the region. The company already operates across Japan, Hong Kong, Singapore, Malaysia, Indonesia and Vietnam.
The company said Korean customers will gain access to a platform focused on multi-market and multi-currency financial operations. It listed global business accounts, payments, and spend management among the products it intends to offer. The payment product includes card acceptance and local payment methods. The spend product includes corporate and employee cards, expense management and bill payments.
Airwallex also said it will serve companies outside Korea that want to operate in the market. It described Korea as a fast-growing economy with strong cross-border trade and digital commerce.
Arnold Chan, General Manager, APAC, Airwallex, linked the acquisition to outbound growth ambitions among Korean companies.
"This acquisition marks a pivotal milestone for Airwallex as we expand the global reach of our financial platform. Korea's fast-growing eCommerce, creative and entertainment sectors present immense opportunities for Korean businesses on the global stage. Our goal is to support these businesses with a more efficient solution to expand beyond borders."
K-wave demand
Airwallex pointed to international demand for Korean entertainment and consumer goods. It cited projections that the market tied to the global "K-wave" could reach USD $198 billion by 2030.
Invest Seoul, which promotes investment into the South Korean capital, welcomed Airwallex's entry. The organisation framed the move as positive for both local and international firms operating in the country.
"We are excited by this significant investment by Airwallex into the Korean market. We believe Airwallex's entry will strengthen the financial operating environment for both Korean and global companies in the market. Invest Seoul will continue to collaborate closely with Airwallex to accelerate the digital transformation journey for Korean businesses, and to support more global companies in entering Seoul and operating their businesses successfully," said Lee, Jihyung, President & CEO, Invest Seoul.
Regional growth
Airwallex shared performance figures for its Asia-Pacific operations. It reported an 85% year-on-year increase in revenue in the region and a 71% year-on-year rise in transaction volume in 2025.
Globally, the company reported USD $1.2 billion in annualised revenue and USD $266 billion in annualised transaction volume in December 2025. Airwallex described these figures as reflecting demand for its products and its licensed infrastructure across markets.
The company said it plans to grow its local team in Korea as it begins operations. It expects to hire across multiple functions in 2026 and aims to reach a headcount of 20 employees in Korea by the end of that year.