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Airwallex Reports 93% Revenue Growth in ANZ

Airwallex, a global payments and financial platform for modern businesses, has announced a 93 per cent year-on-year (YoY) revenue increase across Australia and New Zealand (ANZ).

This growth is part of a broader trend for Airwallex, which also recorded an 84 per cent increase in global revenue YoY. Additionally, global transaction volume grew by 68 per cent YoY.

In the first half of FY24, Airwallex has seen significant momentum in its ANZ business. This includes the launch of Airwallex Yield, an Australian-first product offering interest rates more than double those of major 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 at Airwallex.

Wu emphasized the importance of the Australian market for 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.”

Airwallex’s growth trajectory has been impressive. The company became cash flow positive in 2023 and has continued to scale its global operations, processing more than US$90 billion in annualised transaction volume.

The company now employs over 1,500 people across 23 locations worldwide, including 200 team members in its Sydney and Melbourne offices. Airwallex 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, and Kogan.

Wu highlighted the pressures faced by businesses of all sizes. “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.”

Airwallex’s strong performance in the ANZ region demonstrates its ability to adapt and thrive, even in challenging economic conditions. The company’s innovative approach and commitment to customer satisfaction have been key drivers of its success.

The launch of new products like Airwallex Yield is part of the company’s strategy to offer comprehensive financial solutions that cater to the needs of modern businesses. By continuing to innovate and expand, Airwallex aims to solidify its position as a leading player in the global payments industry.

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