Fintech Airwallex has announced its acquisition of Leapfin, a provider of financial data automation solutions focused on revenue recognition and reconciliation processes. This move enhances Fintech platform Airwallex’s existing offerings, enabling companies to efficiently convert raw operational transaction information into fully compliant financial statements aligned with all the applicable GAAP standards.
By combining Leapfin’s industry knowledge in revenue accounting with Airwallex’s international infrastructure, the integrated platform will provide finance departments worldwide with a more complete and reliable foundation for managing the full record-to-report cycle.
The two organizations intend to introduce enhanced product features soon, leveraging Leapfin’s technology to streamline reconciliation tasks, automate revenue recognition, and simplify other critical accounting workflows.
Finance professionals today face growing challenges from operating across numerous entities, currencies, and disconnected data sources.
Jack Zhang, CEO and co-founder of Airwallex, said:
“Bringing Leapfin’s data engine and accounting AI agents into the Airwallex ecosystem allows us to close the loop on the entire financial lifecycle, from accepting payments to closing the books.”
Airwallex currently handles more than $266 billion in annual transaction volume and supports over 250,000 customers around the world.
The addition of Leapfin’s capabilities will help these businesses speed up reconciliation efforts, reduce reliance on manual spreadsheet work, and implement sophisticated revenue recognition rules on a global scale.
Ray Lau, CEO and co-founder of Leapfin, said:
“We started Leapfin to give finance teams a stronger foundation than disconnected legacy systems and manual workarounds. By joining forces with Airwallex, we have the backing of a global platform to accelerate our roadmap, scale our engineering resources … .”
Under the agreement, Leapfin’s core product offerings, leadership team, and engineering staff will continue their operations with minimal disruption.
This ensures smooth service for current clients while expanding the platform’s reach through Airwallex’s network.
Founded in Melbourne in 2015, Airwallex has grown into a key player in global finance, holding more than 85 regulatory licenses across key regions including North America, Europe, the Middle East, and Asia-Pacific.
The company, co-headquartered in San Francisco and Singapore, employs over 2,200 people in 26 offices.
Its comprehensive suite includes payment processing, billing, multi-currency business accounts, corporate cards, and spend management tools, empowering both startups and large enterprises to handle international operations efficiently.
The acquisition marks another step in Airwallex’s commitment to building an end-to-end financial ecosystem for borderless business in today’s digital economy. By effectively addressing pain points in accounting and reporting, the combined platform now aims to considerably reduce operational friction and deliver improved business outcomes.
