Airwallex acquires Leapfin to expand its financial data automation capabilities. The financial platform announced the acquisition of Leapfin, a specialist in revenue recognition and reconciliation, on June 4.
Airwallex acquires Leapfin to enhance financial data automation
The deal aims to extend Airwallex’s services across the entire financial lifecycle. By integrating Leapfin’s expertise in revenue accounting with its global payments infrastructure, Airwallex plans to offer businesses a seamless transition from operational transaction data to GAAP-ready financials.
The companies intend to develop new product features in the coming months. These will focus on simplifying reconciliation, revenue recognition, and the broader record-to-report processes using Leapfin’s technology.
Jack Zhang, chief executive and co-founder of Airwallex, said Leapfin has solved a complex engineering challenge by converting messy transactional data into a single, auditable source of truth. He added that incorporating Leapfin’s data engine and accounting AI agents will enable Airwallex to manage the entire financial lifecycle, from payment acceptance to closing the books.
Leapfin integration to support high-growth businesses
Airwallex currently processes over $266 billion in annual transaction volume and serves more than 250,000 customers worldwide. The acquisition will help businesses on its platform speed up reconciliation, remove manual spreadsheet work, and automate revenue recognition at scale.
Ray Lau, chief executive and co-founder of Leapfin, stated that joining Airwallex provides the support of a global platform to accelerate their roadmap, increase engineering resources, and deliver more value to customers relying on their financial workflows.
Leapfin’s core product, leadership, and engineering teams will remain under Airwallex, ensuring continuity for existing clients. Financial details of the acquisition were not disclosed.
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