Fintech platform Airwallex has unveiled plans to invest more than S$2bn ($1.5bn) in Singapore over the next five years.
The company also intends to expand its local workforce to more than 1,000 personnel, up from more than 750 current staff members.
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The announcement “reinforces Airwallex’s long-term commitment” to Singapore as one of the company’s two global co-headquarters, alongside San Francisco, it said in a statement.
Airwallex originally established its Singapore co-headquarters in 2023.
The expansion plan coincides with the opening of additional office space at Guoco Tower in the Tanjong Pagar district.
Airwallex has added space on level 35 to its existing premises and has secured another floor scheduled for early 2027.
Once completed, the company will occupy more than 80,000ft2 across four floors.
The capital deployment will finance local headcount expansion, technology infrastructure, and product capabilities.
The company is collaborating with the Singapore Economic Development Board (EDB) to build engineering, product design, and artificial intelligence teams that will support its global operations.
Airwallex Asia-Pacific general manager Arnold Chan said: “Singapore is central to our global ambitions. Its talent, innovation ecosystem and connectivity make it a natural home for one of our global co-headquarters, and a key base for driving our next phase of growth.”
EDB Digital Industry Singapore senior vice president and co-head Herman Loh said: “We welcome Airwallex’s continued investment in Singapore, which will significantly increase its footprint and anchor more product and AI capabilities here.
“This will create exciting new job opportunities critical to the development of next-generation financial solutions. Airwallex’s investment also highlights Singapore’s position as a key hub for fintech innovation, and a strategic base for companies expanding across Southeast Asia and the wider APAC regions. We look forward to deepening and expanding our partnership with Airwallex.”
Singapore serves as an operational base for Airwallex’s expansion across Southeast Asia, including Malaysia, Indonesia, and Vietnam. Singapore-based teams also support product development, technology innovation, and business functions across Airwallex’s international markets.
