Airwallex Australia and New Zealand reports strong growth momentum and revenue

Airwallex Australia and New Zealand reports strong growth momentum and revenue

Leading global payments and financial platform for modern businesses, Airwallex, has continued on its growth trajectory, delivering a 93 percent increase in year-on-year (YoY) revenue across Australia and New Zealand (ANZ).

Airwallex also recorded strong global revenue growth, up 84 percent YoY, while global transaction volume grew at 68 percent YoY.

Thus far in FY24, Airwallex has experienced significant momentum across its ANZ business, including the launch of Airwallex Yield, an Australian-first-of-its-kind product offering more than double the rates of the big banks.

“Despite a tough macroeconomic environment, our continued growth across Australia and New Zealand is testament to our strong product fit for modern businesses seeking to scale,” said Kai Wu, Chief Revenue Officer and Asia-Pacific Executive General Manager, Airwallex.

“Australia will always be an important market for us – not just because it’s where we started, but because its history as a payment innovation incubator makes it fertile ground for Airwallex to introduce revolutionary solutions like Yield and Airwallex for Startups. We’re excited to continue to invest in expanding our presence in Australia and New Zealand.

“Businesses of all sizes – from startups to enterprises – are under pressure to grow at breakneck speed and meet evolving customer needs, and so we remain committed to delivering the best solutions for our customers and partners in ANZ and beyond.”

The growth follows Airwallex becoming cash flow positive in 2023, as the company has continued to scale its global operations and presence, processing more than US$90 billion in annualised transaction volume.

Airwallex now has over 1,500 employees across 23 locations globally, including 200 team members across its Sydney and Melbourne offices, and plans to continue growing its local footprint to support its expanding customer base, which includes over 100,000 businesses globally and local brands such as Qantas, Stake, Kogan and more.