Airwallex has acquired San Francisco-based billing
startup OpenPay, adding subscription management and analytics tools to its
global financial platform.

The move expands Airwallex’s reach into recurring
revenue services and positions it against billing providers such as Stripe
Billing and Recurly.

A Global Take on Billing

Although the financial terms of the transaction were
not disclosed, Jack Zhang, co-founder and CEO of Airwallex, said the deal fills
a gap in existing billing technology.

“Most billing systems are locked in the past; they
were never designed for a global, multi-currency world. That’s the gap we’re
closing,” commented Jack Zhang, Co-founder and CEO of Airwallex.

“By bringing OpenPay’s subscription management,
orchestration, and analytics capabilities into Airwallex, we’re creating the
first truly global billing platform.”

OpenPay offers automated features including smart
payment routing, AI-driven retention tools, and subscription management across
tiered, usage-based, and flat-fee models.

These capabilities target growing demand for flexible
billing, particularly from AI and consumption-led businesses that monetize by
tokens, calls, and compute.

“We started OpenPay to solve the complexity of
recurring revenue management,” said Lance Co Ting Keh, CEO of OpenPay. “In
Airwallex, we found a partner who shares our vision and has the global reach to
apply our work at scale.”

The Bigger Picture

The acquisition highlights a shift in billing as
companies move away from fixed, seat-based pricing. By combining its global payments infrastructure with
OpenPay’s billing tools, Airwallex aims to lower costs and support businesses
scaling subscriptions across borders.

Last month, Airwallex
secured a Markets in Financial Instruments Directive (MiFID) license from the
Dutch Authority for the Financial Markets, clearing the way for the launch of its Yield
product in the Netherlands.

The authorization permits the offering of money market fund
investments to European small and medium-sized businesses, adding an investment
layer to its existing financial services.

With the license in place, Yield will provide multi-currency
investment options in euros, pounds, and US dollars, allowing businesses to
earn returns without term deposit restrictions or lock-up periods.

Commenting about the move, Shannon Scott, the SVP and Global
Head of Product at Airwallex, said: “Receiving our MiFID licence is the first
step to launching Yield in the Netherlands and will get us one step closer to
providing European businesses with a smarter way to make their money work
harder.”

This article was written by Jared Kirui at www.financemagnates.com.

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