Singapore-based Airwallex has emerged as Southeast Asia’s most heavily funded payments startup, raising a total of $1.9 billion in disclosed equity funding, according to a new report by market intelligence platform Tracxn.
The report, titled Southeast Asia’s Payment Startups Powering the Future of Digital Commerce, ranks 12 payment startups in the region by total disclosed equity funding as of July 27, 2026.
Together, the companies have raised more than $2.7 billion, highlighting continued investor interest in businesses building payment infrastructure, cross-border payment networks, embedded finance, treasury platforms, merchant solutions, and digital asset payment capabilities.
Airwallex, which recently closed a $320 million Series H financing round, ranked first on the list, followed by Singapore-based cross-border payments firm Thunes, which has raised $362 million, and Finture Group, with $100 million in disclosed funding.
Indonesia was represented by Honest and OY!, while Vietnam’s VETC was the only Vietnamese startup on the list. The remaining companies were based in Singapore, underscoring the city-state’s position as Southeast Asia’s leading fintech hub.
According to Tracxn, investor interest has been driven by the growing adoption of digital payment solutions supporting e-commerce, cross-border transactions, and enterprise financial operations.
“The 12 companies featured in this list have collectively raised over US$2.7B in disclosed equity funding, reflecting sustained investment in businesses developing payment infrastructure, merchant payment solutions, treasury platforms, digital asset payment capabilities, and embedded financial services,” the report said.
The report also found that the startups span funding stages from Seed to Series H, with most still in the early stages of growth, suggesting a healthy pipeline of payment companies progressing toward commercial scale.
They focus on enabling digital payments through cross-border networks, enterprise payment infrastructure, merchant commerce solutions, embedded financial services, and digital asset-enabled payments.
Tracxn said the rankings are based on total disclosed equity funding raised by active technology companies headquartered in Southeast Asia, with data captured as of July 27, 2026.