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