Expanding Rapidly in Canada: Airwallex Announces Significant Growth Strategy and New Alliances
In the bustling Canadian business landscape, a growing number of companies are seeking modern financial tools to replace outdated systems that struggle with multi-currency, cross-border operations. One company making significant strides in this area is Airwallex, a Singapore-based fintech company.
Airwallex has reported a remarkable 390% year-over-year revenue growth in Canada, driven by increasing demand for its global payments and cross-border financial tools among Canadian businesses. This strong market traction and customer base growth are a testament to Airwallex's product-market fit.
To further solidify its position in the Canadian fintech market, Airwallex has entered into strategic partnerships with several key players. One such partnership is with Dext, a leading bookkeeping automation provider. The collaboration aims to modernize financial workflows for small and medium-sized businesses (SMBs) and their accounting partners by combining Dext’s automation with Airwallex’s global payments infrastructure. The result is an integrated payments solution, Dext Payments, which automates the entire accounts payable workflow from invoice upload to payment. The beta rollout of Dext Payments is planned to start in Autumn 2025 across the UK, Europe, North America (including Canada), and APAC.
Another strategic partnership is with Float, one of Canada’s fastest-growing B2B fintechs. This collaboration supports Canadian businesses in streamlining bill payments across borders, enhancing payment efficiency.
In addition to these partnerships, Airwallex is also expanding its product offerings and local headcount in Canada to meet the growing market demand for cross-border payments and financial technology solutions. This comprehensive approach supports Airwallex’s leadership ambitions in the Canadian fintech ecosystem.
Airwallex is not only partnering with established Canadian fintechs but also supporting Canada's high-growth economy. For instance, the company has partnered with Boundless AI, a capital marketplace for growth-stage companies, to streamline access to capital and global financial infrastructure for SMEs across North America.
The company's Toronto-based team is expanding to support its growth in Canada. Airwallex's platform includes business accounts with foreign exchange management, fast global transfers, virtual Visa cards with no international fees, and robust spend and bill management features. These tools are designed to fill the gap with faster, more cost-effective solutions that help Canadian businesses grow beyond borders.
Trung Pham, Founder of RYSE, praised Airwallex as the best platform he's worked with in Canada for simplifying international financial operations, saving money, and operating efficiently across borders. Ravi Adusumilli, President of Americas at Airwallex, stated that the company is seeing strong momentum in Canada, particularly among small and mid-sized businesses with global ambitions.
Simba Wakatama, Head of Partnerships & Experiences at OneEleven, emphasised that partnerships like this one with Airwallex help high-growth companies scale faster and smarter. Airwallex has partnered with OneEleven to bring its tools to Ontario's innovation community.
With its rapid revenue growth, strategic partnerships, and regional expansion, Airwallex is positioning itself as a cornerstone of Canada's modern fintech infrastructure with a mission to help Canadian businesses reach their global potential.
In the Canadian fintech market, Airwallex's strategic partnership with Dext aims to modernize financial workflows for small and medium-sized businesses (SMBs) by combining Dext’s automation with Airwallex’s global payments infrastructure, creating an integrated payments solution, Dext Payments.
Moreover, Airwallex is expanding its product offerings and local headcount in Canada to meet the growing market demand for cross-border payments and financial technology solutions, positioning itself as a cornerstone of Canada's modern fintech infrastructure with a mission to help Canadian businesses reach their global potential.
