Airwallex acquires Leapfin to automate financial reporting
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The news: Global financial platform Airwallex has acquired Leapfin in a move to expand the company’s financial software suit, allowing businesses to seamlessly transition operational transaction data into GAAP-compliant financials.
The context: The acquisition will combine Leapfin’s revenue accounting capabilities with Airwallex’s global payments infrastructure, providing multinational finance teams with an integrated record-to-report solution.
The companies plan to introduce new product capabilities in the coming months, leveraging Leapfin’s technology to streamline reconciliation, revenue recognition, and other financial reporting processes.
Founded in Melbourne, Airwallex processes more than $266 billion in annual transaction volume and serves over 250,000 businesses globally. The company said the acquisition will help customers accelerate reconciliation, reduce reliance on manual spreadsheets and automate revenue recognition workflows at scale.
What they said: “By joining forces with Airwallex, we have the backing of a global platform to accelerate our roadmap, scale our engineering resources, and deliver even greater value to the customers who trust us with their critical financial workflows,” Leapfin CEO Ray Lau said.
The source: Airwallex
