Global fintech unicorn Airwallex plans growth in Lithuania

Motivated talent and a forward-looking regulator – that’s what a leading financial technology platform Airwallex cites among the reasons for establishing operations in Lithuania. After obtaining an electronic money institutions (EMI) license from the Bank of Lithuania, the company established an EMEA service center Airwallex Lithuania in Vilnius in 2022. Today, Airwallex is looking to expand its local team to support future growth in Lithuania and across region.

Global fintech Airwallex offers financial infrastructure for businesses to accept payments and move money internationally. The company’s platform offers a streamlined and cost-effective way to manage everything from treasury and expenses to embedded finance. In Lithuania, Airwallex’s team supports small and medium-sized enterprises (SMEs) with their global payment infrastructure needs.

“Our Lithuanian unit provides customers with best-in-class currency, ultra-fast worldwide payments and global accounts,” says Virgilijus Mirkės, General Manager of Airwallex Lithuania.

To better support SME customers across the region, Airwallex also established a service center for the company’s EMEA operations in Lithuania in January 2022.

In Europe, SMEs can benefit from Airwallex’s five core product offerings: Payment Gateways, Wallet Services, FX Engine, Global Treasury Payment Network (GTPN) and Issuing. The company’s SME customers range across a range of industries, including e-commerce, travel, logistics and others. Airwallex also has plans to expand further into the Middle East later this year.

“As we continue to expand our presence in Lithuania, we will continue to announce new services and products to enable businesses of all sizes to accept, hold and convert money,” says Mirkės.

Airwallex saw impressive growth numbers in the past year, raising another $100 million in 2022 and maintaining a $5.5 billion valuation amid challenging market conditions, more than doubling its customer base globally and processing close to $50 billion in transactions annually. Airwallex’s EMEA businesses also recorded double-digit growth as they strengthened their position in Lithuania, the Netherlands and the UK – markets in Europe where Airwallex is currently present.