Airwallex, the global financial platform founded in Melbourne in 2015, has reported impressive growth across the Asia-Pacific (APAC) region, showcasing an 83% year-on-year (YoY) revenue increase in Q3 2024. Globally, the company saw a 73% rise in revenue and a 60% YoY increase in transaction volume, with APAC remaining a key driver of its success. Airwallex’s ability to innovate and adapt has cemented its position as a leader in the fintech industry.
Expanding its reach beyond Australia, Airwallex now operates in Singapore, Hong Kong, Malaysia, New Zealand, and mainland China. In 2024, the company launched several initiatives to meet the evolving needs of modern businesses. Among these is Airwallex for Startups, a program first introduced in Hong Kong in 2023 and now available in Australia, Singapore, and New Zealand. The initiative has attracted over 2,000 startups, offering them networking opportunities, mentorship, and product benefits. Global expansion of the program is planned for 2025.
Airwallex Yield, the company’s investment product, saw strong adoption in 2024 following its earlier launch to wholesale customers in Australia. The product allows customers to grow funds in AUD and USD at competitive rates. Airwallex also became the first major payment company in Australia to secure a financial services license for investment products. This milestone was followed by the receipt of an asset management license in Hong Kong, where Airwallex Yield is set to launch next year.
The company has also introduced Airwallex Spend, a global suite of financial tools that includes Borderless Cards, Expense Management, and Bill Pay. Designed to streamline financial management for businesses, the product combines AI-powered automation with enterprise-level controls, making it a preferred choice for modern companies.
In addition to its product innovations, Airwallex has made significant strides in its social impact initiatives. Its newly launched Airwallex Impact program commits 1% of equity, time, product, and profit to philanthropic efforts, supporting innovators and entrepreneurs worldwide. The company has pledged $56 million in equity alone based on its current valuation.
Airwallex processed over $100 billion in annualized transaction volume in 2024, with its annualized revenue run rate exceeding $500 million. The company has also expanded its APAC team by 160 employees this year, bringing its global workforce to over 1,600 across 23 offices. With plans to enter new markets like Malaysia and South Korea in 2025, Airwallex remains focused on scaling its operations and supporting businesses globally.
